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The_capit4list
Jan 17, 2020 2:08 PM

gbpusd update! Short

British Pound/U.S. DollarFXCM

Description

we are in the 4th wave of 1-5 which is also part of wave B to C of the bigger picture.
wave C rests on the 50%rt line.
Comments
ahmedzahid2799
Nice analysis.. Do you see this going back to the 61.8 fib before having a big drop
The_capit4list
@ahmedzahid2799, i apologize for my late reply, Flat corrections subdivide as 3-3-5. Waves A and B consist of 3 waves, and wave C is made up of 5.
An expanded flat correction subdivides just like a normal or regular flat, except that wave B exceeds the origin of wave A. In this case, wave C will equal either 1.618 multiple of wave A or 61.8% multiple of wave A extended from the extreme of wave A. so if we're saying this is ABC, it only makes sense for B to be slightly below A.
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