Fahad_4FX

Fahad_4FX

Yellow if correction completed, pink if just A completed , need B for pull back and C as final down side

Fahad_4FX

if wave five of wave C is ending diagonal it is almost complete

Fahad_4FX

if wave yellow C is wave one , it means wave five just started with one and two, support line yellow on must be broken to confirm this view , white scenario is bullish with must support line yellow one protected, personally tend to bearish view

Fahad_4FX

It is all in all correction reaction from lowest price , Now face possible resistance which will push it down to record new bottom

Fahad_4FX

approx. equal waves provide good short opportunity where A = C

Fahad_4FX

In my view point I see it topped, still 1.618 not reached , major mcoming movement to the south to break 1.31600

Fahad_4FX

Looks top in place or there is final push up to 1.3500 as max ceiling height, resuming down trend is most favour

Fahad_4FX

This line is our "hope" people who went short since last analysis still no clear signal to say it is reached the top except this trend line, maybe it works , general view it is all actions from lowest price all in correction manner

Fahad_4FX

It is all correction waves , sell now , it is exceeds previous analysis level but nothing change

Fahad_4FX

To continue downtrend , prepare to sell , it is recovered in 3 waves only in downtrend, Sell

Fahad_4FX

As long as previous red line broken and invalidate five wave scenario, action now all about 3 waves up which will result new downside trend

Fahad_4FX

Chart scream, finished correction followed by 5 waves down as wave 1 followed by sharp correction as wave 2, trend is down as long as red line is protected

Fahad_4FX

If this labeling correct , A = C , it means Pound bottomed or very close to the bottom( there is final push down )

Fahad_4FX

there is good valide resistance, result is more downside

Fahad_4FX

Wave 4 formed as a triangle broken by wave five, first wave retraced in 3 waves which give evidence of continuation in down side trend , looks will start soon wave 3 (1.618 of wave 1) , 4 & 5 in 1.3000 area

Fahad_4FX Updated 

For previous bullish look red line must be protected, in case of break alt. analysis will be validate, Triangle is the ideal view

Fahad_4FX

If red line protected, we have perfect bullish formation at least same wave one size if not 1.618

Fahad_4FX

stop above 150.80, Target 148.80 , looks correction ABC , A = C