GBP/USD 4H ELLIOT WAVES/ ELLIOT TRIANGLES ABCDE
Price Action (Technical Analysis): After Analyzing our Long-Term Position Zone last week, we are speculating price in smaller time frames to assure us price is continuing to our Monthly Support Zone. Price is in a descending parallel channel targeting our Monthly Low, Wave 2 we have an ABC Correction. Wave 4 developed Elliot ABCDE Triangles. Calculating the end of Wave 5, we measure Wave 1-3 to measure out Wave 5's probable end with the Fibonacci Retracement Tool and use the 61.8% measurement as resistance structure to our (E) Triangle in Wave 4. I am anticipating Wave 5 to end around the Psychological Level ( 1.23000 )
Fundamental Analysis: None.
Fundamental Analysis: None.
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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.