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as we can see from the chart we are in the 5th wave in (wolfe waves pattern) , so the price most likely to test the line dawned from (1) wave to (4) wave .
let's brake down the chart :
as we can see from the chart : the wave AB traced around 88% from wave (1) , and the second small wave traced 88% from the wave B ,(2) . so iam expecting the next correction ...
(Bump and run) reversal pattern, very strong and price bellow 200 MA
long position with huge potential profits
Elliot wave No 5 in progress along with continuation triangle pattern target 1.2
strong short pattern
Wolfe wave expected waiting till the price reached the desired area to short
two short patterns in one position !!!
taking in consideration that bullish trend taking more time to consolidate than bearish trend comes this idea to my mind . i am not sure if it's making sense but looks logical to me specially the price didn't meet the upper trend yet .
wolfe wave pattern
short to 112
best selling point ,as the price consolidating to continue down lend pack
strong selling pattern
inverted head and shoulders targeting 0.995
GBPUSD forming a continuation wave 4 pattern and likelihood heading to 1.16 on the long run ,specially the price consolidated for around 305 days the same days took the wave 2 to be shaped
short at 0.91
very possible pattern if we take in our consideration the correction might be seen in the next two weeks in USD