GBPUSD, Elliot Corrective Wave Expectations
1. In a 4 Hour chart, as we can see theres a perfect Elliot Impulsive waves.
After 5th impulsive waves, there must be an ABC Wave Correction.
so, here im tryin to figure out Where is B and C area.
SELL
TP @ 1.33500
BUY LIMIT
- 1.33450
- 1.33160
TP at expected C area
- 1.33450
(expected B Are between 61.8 - 78.6 Fibonacci level) and (expected C are fibonacci level Swing High from A to expected B point)
2. and There is Inverse Head And Shoulders pattern.
so theres is 2 posibilities for Cable.
STOP LOSS IS A MUST, Put somewhere based on your risk management system.
After 5th impulsive waves, there must be an ABC Wave Correction.
so, here im tryin to figure out Where is B and C area.
SELL
TP @ 1.33500
BUY LIMIT
- 1.33450
- 1.33160
TP at expected C area
- 1.33450
(expected B Are between 61.8 - 78.6 Fibonacci level) and (expected C are fibonacci level Swing High from A to expected B point)
2. and There is Inverse Head And Shoulders pattern.
so theres is 2 posibilities for Cable.
STOP LOSS IS A MUST, Put somewhere based on your risk management system.
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