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Elliottwaveidea

I'm waiting for the completion of the correction and in short.After working on errors, I see small flaws in the analysis of the chart. Regarding the latter, at the moment I see a non-standard zigzag. Why non-standard? Wave (b) has gone beyond wave (a) of the smallest cycle. this is a kind of deviation from the norms of wave analysis and seems to be unacceptable, but this happens the same way as with candles that are also not ideal. In this situation, my market goals for tomorrow. 1) the target is 1650 but before it I think you can wait for the correction to complete at around 1682 and only after that open shortly for 1692.34. take 1648.82.
TVC:GOLDShort
by AURUMEM999
1
ORBEX: GBPUSD - Should We Expect The Breakout To Continue?It looks like the corrective intermediate wave (C) completed its bearish course at1.1956. The recent attempt to push prices down brought the pair lower where it completed a corrective minor A,B,C at the round 1.22 level. As part of intermediate wave (2), the minor three-wave corrected down to the 61.8% golden ratio of 1.1956 bottom and 1.2588 top at 1.21943 - to be more precise. The current breakout could be the beginning of intermediate wave (3). Should the formation gets validated above 1.2588, the next stop for a breather would be near 1.2828 100% FE, then near 1.32. The structure suggests that once minor corrective low A and then B are taken out by bulls, chances of further upside would increase. This opportunity would be invalidated below 1.1956 with short-term signs of failure appearing below 1.2194 (unless if this turns out as a double zig-zag or other corrective structure) Expect short-term pullbacks for profit-taking Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Long
by Orbex