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Trade-Technique

WaveTheory: 4Wave for long with minimum Risk!

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Trade-Technique Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Elliott Wave Wave Analysis Trend Analysis GBPUSD gbpusdlong Forex forexsignals
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elliottwaves waveanalysis trendanalysis gbpusd gbpusdlong forex forexsignals
3W-261.8% of W1 and W2 therefore, 3rd wave was extended.

W1 1.22984 is current support for long.

  • Elliot Wave Rule (1):
4W can't overlap of W1 and the current price is very close to 1W which is the best potential opportunity to buy.

=> 3W have 5-subwave, they can be mentioned by roman numbers on chart from 2W to 3W.

If we are going to long for mentioned first target at 1.25032 (previous key level) and next target at 1.26152 target key.

5W can be expected shorter than 3W in this case.

Look at my Previous work on GBPUSD: Huge Profit!
Part 2: GBPUSD, EWT Sell at Top at 3rd Wave.



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Trade closed: target reached:
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