EUR/GBP Update: Long from AB=CD and possible Cypher C
Update on previous idea. Shark now invalidated... AB=CD completed and we are about at the max. level of a cypher C...
Wave C of ABC zigzag complete? Watch out: trend channel broken...
Agressive long possible here, tight SL below the recent low, a bit wider can be below the support zone or below 0.7500 round number...
50% retracement of CD leg is the main target for an AB=CD, additionally 0.886 of CD which is just below B point of possible cypher...
Look for 5-wave structure to complete a fifth wave (if it isn't complete already, maybe my wave 3 is actually 5...).
If Cypher D completes we could have a truncated wave 5 and a great longterm short from there...
Wave C of ABC zigzag complete? Watch out: trend channel broken...
Agressive long possible here, tight SL below the recent low, a bit wider can be below the support zone or below 0.7500 round number...
50% retracement of CD leg is the main target for an AB=CD, additionally 0.886 of CD which is just below B point of possible cypher...
Look for 5-wave structure to complete a fifth wave (if it isn't complete already, maybe my wave 3 is actually 5...).
If Cypher D completes we could have a truncated wave 5 and a great longterm short from there...
Watch the cypher...: