GBPUSD - Nothing Can Stop It, It's All The Way Up!

7 ngày trước

Here we have the monthly chart for GBPUSD.

GBPUSD 'recently' completed a major ending diagonal. We know this as it was a 5 wave pattern in the form of a wedge. Now that the bottom is in, we're expecting multiyear bullish price action.

Wave 1 can be an impulse or a leading diagonal. For GBPUSD, we are seeing a clear leading diagonal pattern = 5 waves.

We are anticipating one final move up to complete wave 1 and then we'll be seeing a wave 2 correction (as shown in the chart)

Trade Idea: Trading the 5th wave of the Leading Diagonal
- Watch for bullish price action to appear
- Confirmations such as trendline break or BOS can be used to gain an entry
- Once entered, put stops below wave 4
- Target: 1.36 (1,100pips)

Once wave 1 leading diagonal is complete, we'll be back with an update!

If this post gets enough engagement, we'll post lower timeframe charts.

Goodluck and as always, trade safe!