Hello traders , GBPUSD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
In our count, we conclude that we are in a leading cycle, and that this cycle is probably related to a larger zigzag .
In this count, waves 1, 2, and 3 are certainly complete, and as we said in the previous analysis, we considered two scenarios to continue the process.
One of the scenarios was that the trend was done before breaking the downtrend and this downturn would continue until around 1.2700 and with this move, wave c would be formed in the form of a triangle and then wave 5 would start.
But in the next scenario, we gave the possibility of breaking the channel and said that after this failure, wave 5 has been confirmed
But we still have doubts about this ascent, and to alleviate this first feeling, we consider a sideways movement that was related to microwave 2 from wave 5, and breaking the end of wave b from wave 4 is necessary to ensure the continuation of the ascending trend.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In our count, we conclude that we are in a leading cycle, and that this cycle is probably related to a larger zigzag .
In this count, waves 1, 2, and 3 are certainly complete, and as we said in the previous analysis, we considered two scenarios to continue the process.
One of the scenarios was that the trend was done before breaking the downtrend and this downturn would continue until around 1.2700 and with this move, wave c would be formed in the form of a triangle and then wave 5 would start.
But in the next scenario, we gave the possibility of breaking the channel and said that after this failure, wave 5 has been confirmed
But we still have doubts about this ascent, and to alleviate this first feeling, we consider a sideways movement that was related to microwave 2 from wave 5, and breaking the end of wave b from wave 4 is necessary to ensure the continuation of the ascending trend.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️