GBPCAD: More downside after bounce completed

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 7, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Best reading of the cycle suggests that rally to 2.057 ended wave X. From this level, the pair resumed the decline in wave (w) as a double three structure wxy where wave w ended at 2.0168, wave x ended at 2.04, and wave y of (w) completed at 1.98. Wave (x) bounce is currently in progress to correct the decline from 2.04. Internal of this bounce suggests a double three structure (w)-(x)-(y) where wave (w) ended at 1.992, wave (x) ended at 1.983, and wave (y) of (x) is in progress towards 1.995

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