GBPUSD: Elliottwave triangle structure in progress

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 14, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliottwave structure suggests that the decline to 1.4 ended wave (B) of a larger degree triangle. Wave (C) rally is unfolding as a double three where wave W ended at 1.4348, and wave X pullback is in progress to correct the rally from 1.4 in 7 swing before turning higher again. The first three swing correction in wave ((w)) is expected to end at 1.408 – 1.413 area, then it should bounce in wave ((x)) before turning lower 3 more swings to finish wave X. Once wave X is complete, the

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