GBPUSD Daily Chart.Whichever the way, it's tradeable.
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Traders,
GBPUSD dominant trend remains Bearish in WEEKLY chart.
Since 7/10/2016 , it developed into a corrective 5-3-5 pattern EW ZigZag.
1 - Wave-A developed into a 5-wave motive structure, ending at 1.27750
2 - Wave-B developed into a 3-wave internal correction ending at 1.19840
3 - Wave-C is initiating a probable 5-wave structure. This is expected to conclude as a motive wave.
-If price bounce from 1.2600 area, watch for long setups, target 1.272 Fib extension of (iv) wave (1.31670), possible last (v) wave.
-If price initiates a flag near 1.2600, watch for short setups, a possible break down and the start of next impulsive wave.
Trade with discipline
Best
GBPUSD dominant trend remains Bearish in WEEKLY chart.
Since 7/10/2016 , it developed into a corrective 5-3-5 pattern EW ZigZag.
1 - Wave-A developed into a 5-wave motive structure, ending at 1.27750
2 - Wave-B developed into a 3-wave internal correction ending at 1.19840
3 - Wave-C is initiating a probable 5-wave structure. This is expected to conclude as a motive wave.
-If price bounce from 1.2600 area, watch for long setups, target 1.272 Fib extension of (iv) wave (1.31670), possible last (v) wave.
-If price initiates a flag near 1.2600, watch for short setups, a possible break down and the start of next impulsive wave.
Trade with discipline
Best
Ghi chú
Looking for the last fifth wave up Ghi chú
4th corrective wave will complete soon.Watch for next impulsive 5th
Ghi chú
Ghi chú
Correction Ghi chú
Looking for shortsGiao dịch đang hoạt động
Trade is active, entry price 1.31120, If you are not in, watch for the break if the flagGiao dịch được đóng thủ công
Closed at BE. Didn't get the break of the flag for a further drop.
Instead now it looks bullish.
Ghi chú
Good up move after the break of the flag, price of daily trendline.Ghi chú
Pattern is close to complete.
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