There is a potential opportunity here on GBP/USD , when the will be complete.
On the (sx) we can see the price go through some important support levels, and one of them, now turn to resistence, will be in the area of the cypher's D point. We also broke the last one on our left, and that is a possibile confirmation that the price want to go lower.
On the 4 Hour timeframe ( dx ) we can add some extra filter to the .
We have the 38.2% of the last impulse move on the , plus 2 extra filter on the 4 hour:
A of A-B and an inversion of B-C, all pointing in the same area.
We can use the PRZ for a trend continuation trade, based on the , or we can just trade the in the "classic way" with a first target at a 38,2% and the second at 61,8%.
What do you guy think?
First Target hit!