kknovartis

kknovartis

This seems to be likely scenario of GBPUSD of wave A correction. If price go above 1.2990 then this count will be invalid. It is a zigzag correction so when wave A completes at 1.2736 then wave B can go back up to 85.4 in retracement so that will be a good opportunity to go long when wave 5 of larger degree completes ie at 1.2736.But preferably I will look to ...

kknovartis

So this is something for today who missed this short trade earlier then can try 38.2 retracement of wave 3 for new short entries but risk management is very important in this trade first trade small lot and on confirmation scale in further. Stops will be above top of wave 3 and target will be the size of wave 1 .

kknovartis

This is looking pretty good so far from my last analysis and have achieved first target of short if it is ABC correction in short term. Now in long term on daily chart it seems highly likely that larger 5 waves from 1.1958 to 1.3514 are completed so if we take this larger wave as 1st impulse wave then now we are going into 2nd wave correction. According to Elliot...

kknovartis Updated 

It seems like 5th wave of 1st larger impulse wave is completed and first correctional wave down has started . Since B wave did not go above 61.8 of wave A it can be ZigZag correction of 5-3-5 . So first set of 5 waves are started and we are in the start of 3rd wave of first 5 waves and according to Elliot wave Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave...

kknovartis

This seems to be Expanded flat correction in 4th wave . So going long seems to be right direction . But this is just my own opinion and not recommendation of trade. All suggestions to this idea will be highly appreciated.

kknovartis

Please suggest if this wave count is correct or not. Appreciate community help. Thanks