GBP/USD Expanded Flat (SHORT 1.86 / LONG 1.39)
Hello Friends,
Looking at this trading pair today and I see as captioned an "Expanded Flat" We have a short opportunity now with the head and shoulders pattern on the smaller timeframe, there was a failure to break resistance on the right shoulder and as indicated and now we can expect this short target.
The long side of it does seem like a stretch but the waves do have the making of an expanded flat. So once this retrace is done, we can expect a bullish push up towards target of 1.39.
Good Luck
Cheers
Looking at this trading pair today and I see as captioned an "Expanded Flat" We have a short opportunity now with the head and shoulders pattern on the smaller timeframe, there was a failure to break resistance on the right shoulder and as indicated and now we can expect this short target.
The long side of it does seem like a stretch but the waves do have the making of an expanded flat. So once this retrace is done, we can expect a bullish push up towards target of 1.39.
Good Luck
Cheers
Comment:
The target for the 5th wave is between 1.618% and 2.618% which is the normal push for the expanded flat.
