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GBP/USD: general analysis 16 November 2018, 13:19

GBP/USD: general analysis 16 November 2018, 13:19 Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 1.2840...

Aug 13, 2018

USD/CAD: wave analysis 13 August 2018, 09:44


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.3152
Take Profit 1.3385, 1.3500
Stop Loss 1.2960
Key Levels 1.2740, 1.2960, 1.3385, 1.3500
Alternative scenario
Recommendation SELL STOP
Entry Point 1.2955
Take Profit 1.2740
Stop Loss 1.3025
Key Levels 1.2740, 1.2960, 1.3385, 1.3500
The pair can grow.
On the 4-hour chart, the fifth wave of the higher level v of 1 develops. Now the local correction has formed as a fourth wave (iv) of v, and the development of the wave (v) of v has begun. If the assumption is correct, the pair will grow to the levels of 1.3385–1.3500. The level of 1.2960 is critical and stop loss for this scenario.


Main scenario
Long positions will become relevant during the correction, above the level of 1.2960 with the targets at 1.3385–1.3500. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2960 will let the pair go down to the level of 1.2740.

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