👉🏻 Price made another extension on this correction, testing the 78.6% retracement level instead. Impulse move will be seen after a break above this whole corrective channel.
👉🏻 As mentioned earlier here, Wave-2 looks pretty much like a flat ABC correction, H1 OB still holding as support and has potential to continue forming its next impulsive Wave-3
Main trade setup
👉🏻Apparently marked the H1 OB wrongly and now whole structure is showing that price is squeezing into a falling wedge. Elliot Wave Theory also shows a WXY corrective pattern with a 3-3-3 sub waves accordingly. Impulse soon?
👉🏻 This minor pullback is healthy as it significantly breaks the previous minor wave-i at 0.86317. Wave-iii in this major Wave-3 will be expected to break the major supply zone and reach our next target.
Major zones may be referred here.
👉🏻 After a week's rise between zones marked here, from 0.84800 -> 0.87000, price has formed a significant double top at the resistance zone. Elliot Wave Theory wise marks the end of an impulse wave and is forming a corrective wave of a possible ABC, with a 3-5-3 movement. Invalidation may be placed above the double top
1 - An upside transcend a downtrend.
2- It is at the end of the inverted head and shoulders model.
His purchasing goals are:
Note: its rise continues as long as 0.86675 is not broken
Personal opinion: Better to buy, and this is more certain when it crosses the neckline of the head and...
👉🏻 Was on a bearish bias since last week after price made this break to the downside. Pullback has already been seen, plus with the fundamentals in the UK, price could be driven further down
This is at a big support level. I previously posted that this was in a range from this support and the upper resistance. Now we are at this support we need to see if it can hold before rising or if it breaks and drops. It has had a lower closing candle on the 21 Jan so there may be big pressure. I would keep a close eye on this and if it does break the support and...
Much like during WWI when Germany was "Shackled to a corpse" in the form of it's alliance with the Hapsburg Empire, so was Britain until recently, through it's union with the EU.
Now, although Britain is finally free, chances are that this came a day late and a dollar short.
Let's be real! - The European Union is nothing more than a rotting corps, not unlike every...