Hello friends
In the GBPCAD currency pair, we are witnessing the formation of a 5-wave pattern or a zigzag.
Our hypothesis is the formation of a 5-wave pattern.
Waves 1 to 4 have formed. It is currently in the support range.
This support range is formed by the collision of static and dynamic supports, which is relatively reliable, and the price has also corrected by 61.8% Fibonacci.
Now we expect the price to grow, and the limits of wave 5 are indicated in the figure.
The first target is 1.8800 and the second target is 1.9200. The third target is far from expected, but not impossible.
Also consider the stop loss below wave 1.
Be successful and profitable.
In the GBPCAD currency pair, we are witnessing the formation of a 5-wave pattern or a zigzag.
Our hypothesis is the formation of a 5-wave pattern.
Waves 1 to 4 have formed. It is currently in the support range.
This support range is formed by the collision of static and dynamic supports, which is relatively reliable, and the price has also corrected by 61.8% Fibonacci.
Now we expect the price to grow, and the limits of wave 5 are indicated in the figure.
The first target is 1.8800 and the second target is 1.9200. The third target is far from expected, but not impossible.
Also consider the stop loss below wave 1.
Be successful and profitable.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.