TradingEW
Long

GBPUSD - predicting the unpredictable correction ii

FX_IDC:GBPUSD   BRITISH POUND / U.S. DOLLAR
69 3 4
Wave (b) of correction ii due for completion at the end of ED wave c, near 1.4960.
Setup long for a swift rally from there, with SL at wave (b) limit, target 0.6182 x i.
Nice - how is the limit for expanded flat (b) calculated?
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TradingEW glennmercer
Yes, an EW guideline for a expanded flat correction for wave b is no more than 1.382% x wave a, here expecting a 'failed expanded flat' with short wave c.
+1 Reply
Excellent
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