the detail is shown in the above Idea. I made this Idea based on Candlestick Analysis and Harmonic pattern.
bear market turning into bull Market with GBP Crab.
Bullish crab pattern
It begins at point X and extends to point A. Point X may be anywhere on the price chart, but looking for a bull pattern under oversold circumstances is a smart practice.
Wave AB must retrace downward to the XA wave's Fibonacci levels of 0.382 - 0.618.
Wave BC must retrace the AB wave's 0.382 - 0.886 Fibonacci levels.
The final wave CD is the longest and must reach the BC wave's 2.24 - 3.61 Fibonacci levels.
Comment
minor correction at F 1.27 is possible
Comment
MINOR Correction is Done as I expected . now GBP Fall more to level 1.618
Comment
Possible ZigZag Trend of BP
Trade closed: target reached
Comment
MINOR CORRECTION Is done. it is possible that GBP BAT flies to reach level 1.27 and start major correction.
Comment
The bearish butterfly pattern will start. PRZ zone Is shown on the chart
Comment
minor correction is done and gbp rise to hit 1.28 then start falling
Comment
Trade active
nEW Update of My Idea. Sell order is Activated
Comment
Trade closed: target reached
first drop started from 132.5 toward 130 and
next big selloff will start from 136 based on bearish butterfly pattern
Fibonacci ratios are one of the most powerful and easiest trading tools in your investor’s toolbox. It provides excellent guidance for when a trend will end and reverse course.
GOOD LUCK.
SEYED.
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