LBCUSD : Might found th end point of the correction
Hi guys,
LBC corrected during a long time and adopted a well know kind of ABCDE triangle correction. I expect LBC to consolidate near D & E levels before a good impulse up and behave like past correction cycle and form. I expect LBC to test 0.08 then stabilize near 0.06. I will be looking for a structure to confirm my projection in the mid term. Overall i will say that 1D and 1W look accordingly to an ABCDE end point but i will update the form later in this post and update targets.
LBC corrected during a long time and adopted a well know kind of ABCDE triangle correction. I expect LBC to consolidate near D & E levels before a good impulse up and behave like past correction cycle and form. I expect LBC to test 0.08 then stabilize near 0.06. I will be looking for a structure to confirm my projection in the mid term. Overall i will say that 1D and 1W look accordingly to an ABCDE end point but i will update the form later in this post and update targets.
Trade closed: target reached:
kinda reached.. ended the retracement like expected and should bounce from lower support instead of upper support with a higher low like expected. inbox for further post on LBC
Comment:
next impulsive stop should reached between 0.1103 to 0.143