GBP/USD - Elliott Wave Analysis

١٢ ديسمبر ٢٠١٨

It is a Y-wave of double/triple combination. The pattern is going to complete the b-wave of zigzag. we have a retracement( maximum 61.8% of a-wave) this line is the important support so there is a big chance that price retrace to this line, after that we have a downtrend as a c-wave of the zigzag.

١٣ ديسمبر ٢٠١٨

تم فتح الصفقة

As you may see, price almost reach to the resistance line, but I should mention that the pattern is a corrective wave and it seems a zigzag witch has been completed only a-wave and part of its b-wave. it is possible that price goes beyond the resistance line. for who is willing to go short, it's needed to put the stop loss upper than resistance line.

١٦ ديسمبر ٢٠١٨

تم فتح الصفقة

Price probably will fall to the 1.24290. it is a good level for TP.