Hi guys. I'm still mastering wave analysis, so please help me out here.
My analysis:
GBPUSD is still in the middle of wave c of wave 2.
Wave c is currently in wave iv.
Wave v of c could very possibly have its own 5 waves.
The 50% retracement of wave 1 is just below the low of wave iv of 1. This, and 61.8%, is a common retracement level for wave 2.
Entry trigger to go long will be above wave iv of c, placing a stop below wave v of c.
Please share thoughts.
GBPUSD
My analysis:
GBPUSD is still in the middle of wave c of wave 2.
Wave c is currently in wave iv.
Wave v of c could very possibly have its own 5 waves.
The 50% retracement of wave 1 is just below the low of wave iv of 1. This, and 61.8%, is a common retracement level for wave 2.
Entry trigger to go long will be above wave iv of c, placing a stop below wave v of c.
Please share thoughts.
GBPUSD