Trend of British Pound Currency Index

Updated

the detail is shown in the above Idea.
I made this Idea based on Candlestick Analysis and Harmonic pattern.

bear market turning into bull Market with GBP Crab.

Bullish crab pattern

It begins at point X and extends to point A. Point X may be anywhere on the price chart, but looking for a bull pattern under oversold circumstances is a smart practice.
Wave AB must retrace downward to the XA wave's Fibonacci levels of 0.382 - 0.618.
Wave BC must retrace the AB wave's 0.382 - 0.886 Fibonacci levels.
The final wave CD is the longest and must reach the BC wave's 2.24 - 3.61 Fibonacci levels.

Note

minor correction at F 1.27 is possible

Note

MINOR Correction is Done as I expected .
now GBP Fall more to level 1.618

Note

Possible ZigZag Trend of BP

Trade closed: target reached

Note

MINOR CORRECTION Is done.
it is possible that GBP BAT flies to reach level 1.27 and start major correction.

Note

The bearish butterfly pattern will start.
PRZ zone Is shown on the chart

Note

minor correction is done and gbp rise to hit 1.28
then start falling

Note

Trade active

nEW Update of My Idea.
Sell order is Activated

Note

Trade closed: target reached

first drop started from 132.5 toward 130 and
next big selloff will start from 136 based on bearish butterfly pattern

SEYED98

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