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 the count that was done, we came to the conclusion that we are in a cycle of progress, and this cycle is probably related to a larger zigzag .
In this count, waves 1, 2 and 3 are finished and wave 4 is formed. Wave 4 is in the form of a zigzag , and from this zigzag , waves a and b are completed, and now we doubt whether wave c is complete or not.
We will have two scenarios:
Wave C Completion: If Wave C is completed, break the range between 1.35000 and 1.34000 upwards and confirm that Wave 5 is starting.
Second scenario incomplete of wave c: we assume that the count we had for wave b of this zigzag is not correct and wave b is two waves behind the current situation and these two waves are related to waves 1 and 2 of c.
So we conclude that waves 1, 2 and 3 are composed of wave c and now wave 4 will be a sideways.
🙏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 the count that was done, we came to the conclusion that we are in a cycle of progress, and this cycle is probably related to a larger zigzag .
In this count, waves 1, 2 and 3 are finished and wave 4 is formed. Wave 4 is in the form of a zigzag , and from this zigzag , waves a and b are completed, and now we doubt whether wave c is complete or not.
We will have two scenarios:
Wave C Completion: If Wave C is completed, break the range between 1.35000 and 1.34000 upwards and confirm that Wave 5 is starting.
Second scenario incomplete of wave c: we assume that the count we had for wave b of this zigzag is not correct and wave b is two waves behind the current situation and these two waves are related to waves 1 and 2 of c.
So we conclude that waves 1, 2 and 3 are composed of wave c and now wave 4 will be a sideways.
🙏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!❤️