We have now completed 7 swings to the upside from the April low.
This correction could now be over, or we could see another push higher
to complete a complex triple zigzag correction.
A break below wave x low (1.7820) would indicate that the correction is indeed over.
If we see a corrective move that ends above 1.7820, look for a move
towards new high and the 1.85/87 area, from where we should end
wave z.
In the short term, we have completed a 5 wave decline followed by three legs
in the upwards direction, so we should see at least a move lower
as 1.875 high remain intact.
My personally opinion: looking at the AUDUSD, it looks like we have
completed the first leg to the downside. This leg was very short,
in time and price, so the AUDUSD should see more downside.
This combined with the assumption that GBPAUD shouldn't gain much more,
warns that we could see a turn in the GBPUSD,
Disclaimer: www.traderwgun.com/?page_id=26...
Twitter: twitter.com/atliveanner
Tradingview: www.tradingview.com/u/traderWgun/
MyfxBook: www.myfxbook.com/mem.../tlkemmy/demo/854232
Mail: traderwgun1@gmail.com
Good luck!
This correction could now be over, or we could see another push higher
to complete a complex triple zigzag correction.
A break below wave x low (1.7820) would indicate that the correction is indeed over.
If we see a corrective move that ends above 1.7820, look for a move
towards new high and the 1.85/87 area, from where we should end
wave z.
In the short term, we have completed a 5 wave decline followed by three legs
in the upwards direction, so we should see at least a move lower
as 1.875 high remain intact.
My personally opinion: looking at the AUDUSD, it looks like we have
completed the first leg to the downside. This leg was very short,
in time and price, so the AUDUSD should see more downside.
This combined with the assumption that GBPAUD shouldn't gain much more,
warns that we could see a turn in the GBPUSD,
Disclaimer: www.traderwgun.com/?page_id=26...
Twitter: twitter.com/atliveanner
Tradingview: www.tradingview.com/u/traderWgun/
MyfxBook: www.myfxbook.com/mem.../tlkemmy/demo/854232
Mail: traderwgun1@gmail.com
Good luck!