Impulsewave
GBPUSD Elliott Wave | Short | Jeremy WagnerChart on the left suggests we are in wave iv of C (ending diagonal)...one more dip lower to retest today's low to finish off the bearish sequence then we may see a strong rally.
The chart on the right is a more traditional impulse and is one wave slower...so two more dips lower to finish off C then a strong rally.
Trend lines support a hold below the April 7 low.
If you are learning Elliott Wave, I'd appreciate any questions you have so it makes sense for you.
Cheers!
Jeremy
AUD is setup for extended 5th waveI say this because wave 3 was short relative to wave one. It is possible to still be in wave 4, but considering how deep it went in one wave I think it will keep extending. If the dollar drops down, aud and NZD will continue uptrend, which is what looks like will happen.
NQ1! - NASDAQ - SHORT - H4 - H1NQ1! - NASDAQ - H4
SELL on the 1.272 Fibonacci Level @ 9265
■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■
Entry: 9265 | Stoploss: 9365 | Takeprofit1: 8965 |
■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■
If you like this idea please click the like button to support us, thanks.
■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■
Disclaimer: All information and ideas provided is for educational purposes only. It is not a recommendation to buy or sell.
■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■