GBPUSD - Great opportunity if confirmed !
We should still be in the making of this fifth wave of (c), so, we need to be patient and wait for price to break the channel lines and move above wave iv of (c) before considering going long.
Ideally, price should remain above the 78.6% level, a move below that shifts the odd towards continued weakness.
And if price moves below the invalidation level, the count gets negated and we need to reassess our view.
Ideally, price should remain above the 78.6% level, a move below that shifts the odd towards continued weakness.
And if price moves below the invalidation level, the count gets negated and we need to reassess our view.
Comment:
We didn't get a clean break outside the channel line and price is staying sideways. The alternate count might then be right and we are in alt wave (b), this means price will be choppy and overlapping a bit more while grinding a bit higher and we'll see one more push lower then for alt wave (c).
That will be the right moment to go long.
That will be the right moment to go long.
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