GBPUSD NEARING SUPPORT AB=CD CONSOLIDATION 12662-12937!!!
Last update I had stated that there would be 2 alternates either it subdivides or consolidates, subdivision did not happen and instead go the consolidation from 12937.
There is an AB=CD pattern in progress and nearing completion as follows:
12937-12850-12909= ABC, THEREFORE CD= 12820(100%)/12800(127%)/12767(162%)
And 12800=50%/12767=62% (12662-12937), once this is complete one could label as A/B/C or AB=CD this will only be the 1st phase complete, however there is the chance of it breaking below 12767(62%) to the
next price zone of 12720(78%).
Could this consolidation subdivide or not ?
There is an AB=CD pattern in progress and nearing completion as follows:
12937-12850-12909= ABC, THEREFORE CD= 12820(100%)/12800(127%)/12767(162%)
And 12800=50%/12767=62% (12662-12937), once this is complete one could label as A/B/C or AB=CD this will only be the 1st phase complete, however there is the chance of it breaking below 12767(62%) to the
next price zone of 12720(78%).
Could this consolidation subdivide or not ?
