Tuesday, February 23, 2016

Gbpchf: 2 Emerging Patterns To Consider A Short

After the 5-Wave decline that broke out of the long term ending diagonal, we saw a shallow retracement which was resisted by the 4th wave of the 5-Wave drive at 1.4750.

Price dipped in a lower degree 5-wave impulse and has been congesting since 9th February.

If price does not dip below 1.3890, we might see a further intra day rally to 1.4310-1.4320 before the bearish trend resumes.

We have two projected scenarios in place; any of which,if satisfied, will make us look for a selling opportunity signal.

Scenario 1

Scenario 2

Watch the video below.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...