GBP/USD: wave analysis
11 December 2018, 10:12
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.2583 |
| Take Profit | 1.2475, 1.2412 |
| Stop Loss | 1.2615, 1.2763 |
| Key Levels | 1.2412, 1.2475, 1.2763, 1.2933 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.2770 |
| Take Profit | 1.2933 |
| Stop Loss | 1.2715 |
| Key Levels | 1.2412, 1.2475, 1.2763, 1.2933 |
The downward movement is still quite likely.
Presumably, on the H4 chart, a downward correction of the higher level is developing as wave 2. At the moment, wave C of 2 is being formed, within which the fifth wave of the lower level v of C is developing. If the assumption is correct, the pair will continue to decline to the levels of 1.2475–1.2412. The critical level for this scenario is 1.2763.
Main scenario
Short positions will become relevant below the level of 1.2763 with the target in the range of 1.2475–1.2412. Implementation period: 5-7 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.2763 will allow the pair to grow to the level of 1.2933.
Presumably, on the H4 chart, a downward correction of the higher level is developing as wave 2. At the moment, wave C of 2 is being formed, within which the fifth wave of the lower level v of C is developing. If the assumption is correct, the pair will continue to decline to the levels of 1.2475–1.2412. The critical level for this scenario is 1.2763.
Main scenario
Short positions will become relevant below the level of 1.2763 with the target in the range of 1.2475–1.2412. Implementation period: 5-7 days.
Alternative scenario
Breakout and consolidation of the price above the level of 1.2763 will allow the pair to grow to the level of 1.2933.
No comments:
Write comments