Hello traders.
Today I am sharing my GBPUSD analysis.
I am using the Elliot wave trading technique which I commonly teach
Here we can see price is currently forming subwave 4 in wave 4.
We are expecting subwave 4 to reject one of our fibonacci levels and not surpass our blue invalidation box below. Once we see bullish rejection we will be forming subwave 5 in our corrective wave.
Once we see subwave 5 fully form, we would have fully formed our corrective wave and we will be looking for our BIG SHORTS which will secure atleast 1500 pips!
We will update a more precise reversal location for our shorts closer to the time.
Be sure to check out my other ideas
Today I am sharing my GBPUSD analysis.
I am using the Elliot wave trading technique which I commonly teach
Here we can see price is currently forming subwave 4 in wave 4.
We are expecting subwave 4 to reject one of our fibonacci levels and not surpass our blue invalidation box below. Once we see bullish rejection we will be forming subwave 5 in our corrective wave.
Once we see subwave 5 fully form, we would have fully formed our corrective wave and we will be looking for our BIG SHORTS which will secure atleast 1500 pips!
We will update a more precise reversal location for our shorts closer to the time.
Be sure to check out my other ideas
Comment:
Big drop now, our safest place to reject is the wave 4 invalidation level and the 0.618 fib
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