GBPUSD/If wave (b) of B is finished - x3 forming - Short!!
In cycle, A upward wave (5) ends with a terminal impulse of 1.36194. Hope thrust reveres back to at least
1.34687 to 1.34295/1.34033 and completely retracement at 1.31839 referring to terminal Impulse effect
or around 38.2% to 50% of the former big cycle in 4h time frame chart.
1h time frame wave (a) assumes finished, wave (b) is unconfirmed but the price already touches the 50%
Fibonacci retracement of wave (a). In case that wave (b) is finished, I predict the next move is going to be
wave x3. of wave (c) aim for 161.8% of wave 1. which is the same target at 50% retracement of the big cycle.
So how to trade?
Wait for confirmation break down at 1.34687 and pull back if the price doesn't come down it means to wave
2 is forming complex correction or wave (b) of B. is not yet finished I will switch to bid when the price is
breakthrough 1.35140 level and the target is 1.35465 cut loss at the support line.
++ Thank you for reading ++
++ Please share your opinion ++
1.34687 to 1.34295/1.34033 and completely retracement at 1.31839 referring to terminal Impulse effect
or around 38.2% to 50% of the former big cycle in 4h time frame chart.
1h time frame wave (a) assumes finished, wave (b) is unconfirmed but the price already touches the 50%
Fibonacci retracement of wave (a). In case that wave (b) is finished, I predict the next move is going to be
wave x3. of wave (c) aim for 161.8% of wave 1. which is the same target at 50% retracement of the big cycle.
So how to trade?
Wait for confirmation break down at 1.34687 and pull back if the price doesn't come down it means to wave
2 is forming complex correction or wave (b) of B. is not yet finished I will switch to bid when the price is
breakthrough 1.35140 level and the target is 1.35465 cut loss at the support line.
++ Thank you for reading ++
++ Please share your opinion ++