Potential Strong Bullish Movement on GBPUSD

1 de fev. de 2020

As we can see on the chart, price has broke out the weekly strong descending trend line with 5 upward waves(12345) after a weekly double bottom. Additionally it has been corrected via a symmetric triangle with 5 waves (ABCDE).
Right now, the price has been broke out the triangle. It has been expected a strong bullish movement as a third primary wave (Red wave indicators).
You need to wait for a hourly bearish correction. After breaking out of that correction trend line, it will be a good idea to get in.

3 de fev. de 2020

Nota

Price has been moved backward unexpectedly at the beginning of the week.
So far on the daily chart again, it has been touched the symmetric triangle trend line as a support and came back upside a little.
If the price break the triangle to the downside the idea is not valid any more. Otherwise, we will wait for bullish movement again to the top of the triangle and look for the long position.
Will update the idea in either case.

7 de fev. de 2020

Ordem cancelada

The price did not confirm the breakout of triangle to the upside as expected and it broke the triangle to the downside as well. We did not enter any trade due to lack of confirmation, however, the idea is not valid any more.