Long GBPUSD: Bullish Shark + Bullish Wolfe Wave to Missed Pivots

1 thg 12, 2015

GBPUSD has completed a bullish shark confluent with a bullish Wolfe Wave setup. The first target has been hit at the 1-4 Wolfe Wave target line. Further bullish movement after initial profit-taking would target the unhit pivot for the month of December and the missed pivot cluster around around 1.522.

Confluence in the PRZ:

• Bullish shark pattern completion
  
• Bullish Wolfe Wave setup
  
• Unhit December, 2015 pivot
  
• Missed pivot cluster around 1.522
  
• Bullish RSI divergence
  
• Long term trendline support