Pound-Dollar-GBP/USD has been trading within a Major Consolidation within the Corrective Cycle Wave IV (black) after Brexit Referendum & Flash Crash.
We are thrilled to announce that the Corrective Cycles are coming to an end and that a Major Trend Continuation shall commence very soon, with the Cycle Wave V (black).
Cycle Wave V (black) could reach 1.1600 or 1.1000 Levels, showing 1500-2000 pips Swing towards the down-side, over the course of this year.
In our view and according to the Wave Count, Cycle Wave IV (black) is ending with Primary Y (red), Intermediate (C) (orange), Minor C (blue), Minute V (green) & Minuette (v) (black).
Cycle Wave IV (black) unfolded with Primary WXY (red) Complex Double Zig-Zag Formation and is about to complete Primary Y (red) with its final leg, Intermediate (C) (orange).
After Primary X (red) has ended, Primary Y (red) commenced its Zig-Zag Intermediate Cycle, with 5 Swings within Intermediate (A) (orange) and 3 Corrective Swings within Intermediate (B) (orange).
Pound-Dollar-GBP/USD unfolded the previously announced and posted Intermediate (C) (orange), with an overall Zig-Zag in its Minor Sub-Waves.
Previously posted Minor A (blue) shown 5 moves on the up-side within its Bullish Swing and Minor B (blue) has shown us the posted Zig-Zag Corrective Structure, which in turn makes us believe that Minor C (blue) will complete Intermediate (C) (orange) with 5 Waves Minute Structure.
Minor C (blue) unfolded with the first Impulse in Minute i (green), followed by a Running Flat in Minute ii (green).
Fundamentals then pushed us upwards, confirming the expected Bullish Minute iii (green), which was corrected with a Complex ABCDE Structure in Minute iv (green).
Minute v (green) is unfolding with its Minuette Sub-Waves (black), showing a Rising Channel in Minuette (iii) (black), which is most likely to be Breached towards a 38.2% Fibs Retracement towards Minuette (iv) (black) and then resume the ultimate Minuette (v) (black).
Minute v (green) is expected to end at or around:
- 150-161.8% Fibonacci Extensions of Intermediate (A) & (B) (orange)
- 150-161.8% Fibonacci Extensions of Minor A &B (blue)
- 61.8-100% Fibonacci Extensions of Minute iii & iv
Pound-Dollar-GBP/USD – SHORT (SELL) Positions
Short, Medium & Long Term:
Aggressive Entry – 1.3000
SL – 1.3100
Moderate Entry – 1.3000
SL – 1.3200
Conservative Entry – 1.3100
SL – 1.3200
Extra Conservative – 1.3200
SL – 1.3310
TP 1 – 1.2750
TP 2 – 1.2400
TP 3 – 1.2150
TP 4 – 1.2000
TP for Long-Term and Full Bearish Cycle Trade – 1.1600 & 1.1000
Safety Measures:
– When in the green, move SL to break-even or in profit
– Wait for Bearish Divergence Confirmation at the end of Minute V (green)
Many pips ahead!
