so the pound is not gonna be same as in previous as i thought and brake the bottom, that is what i expected at first, to be some zig zag correction... ull find it in comments... just stare a bit in the purple B wave and see its complexity.. thats why its so hard to get to ride the B wave. but as it brake the bottom that means we r in making on wave C. so the...
lets see if it bounce at those supports as in previous carts.
september-october 2017 same pattern as now. lets see if it stops at same lvls and if it turns...
here it is where we are in pound dollar. ill try with several smaller time frame charts to explain nicely the details and ill place them in comments of this chart, so.. like it so u can be updated.
the ghost candles are from september-october 2017 the circled one in previous chart. see how similar it is.?
since the price crossed the trend line it might as well brake that purple support cose those smaller structures that iv labeled may be completed as they are. and with that, correction is finished and on brexit day gbp goes up.
as the correction unfolds it shortens the probabilities. on the chart is presented 5-3-5 contracted flat cose i expect last (c) wave to be ending diagonal with deep d wave, remains to follow it...
wave structures up close... as we are in daily correction, and i presume zig zag ABC structure, and for now the price is ending the B structure. with red ABC is marked B part of it. with yellow are the structures of the B part with in it. and that ghost yellow pattern is from red A structure. now it needs to tag that orange low before it goes up for completing the...
will it get back in that daily channel or will it drop further down we will see after this ends... it will very much depends on what moves will show in the correction that will follow somewhere there...
as per previous charts and expectations we r above daily high and made a hew high, so from this point it can drop deep down, or it will be just another correction for medium term up before the big drop . now on the chart we can see that it retraced barely above 0.236 and im expecting to see at least 0.382 and if that will be all the correction or it will be part A...
so as this evolving im seeing a regular zig zag. im not gonna elaborate why so but here is my view... as on daily we can see that the price is in consolidation so on this chart is shown that we r ending the B wave and with that forming that gartley pattern, which will lead us to last part of daily correction.
this is very bold move predicting movement is this stage and with sub waves, cose it very much depends of what kind of moves will make therefore the structure may change! on the chart is shown last part that i was expecting from the weekly time frame and braking the top will mean its finished, so thats why im with my mind of divergence shown with yellow lines....
what are the odds that this is making same diagonal correction as on 4H as in previous chart...??
in the correction we r nearing the end of the B wave and dropping down for C part of the correction and expectations are as per previous chart. ahead of fridays positive data expectations from black friday month, we will see if that data will be part of C wave or it will be turning point...
ill try to explain here two way possibilities so bare with me... that white abcde diagonal is a perfect complete structure which i actually expected it but didnt made chart on it, it looks like from a school book. so... whats happening when one way structure finishes? the other way structure begins to form... so will this next structure be motive or corrective i...
this is just a part of possibilities that can happen cose this structure doesnt look like its motive at all. so if gold proceed up it may came out as a red abc pattern and rush down to finish bigger time frame orange diagonal or as in 4H/Daily time the first abc correction (it have big similarity with it) so for better reassurance next moves need to be closely...