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Facebook Inc. (FB/NASD): general analysis 06 December 2019, 11:19

Facebook Inc. (FB/NASD): general analysis 06 December 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP ...

Aug 14, 2019

GBP/USD: wave analysis 14 August 2019, 09:54


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1.2061
Take Profit 1.1900, 1.1800
Stop Loss 1.2211
Key Levels 1.1800, 1.1900, 1.2211, 1.2360, 1.2554
Alternative scenario
Recommendation BUY STOP
Entry Point 1.2220
Take Profit 1.2360, 1.2554
Stop Loss 1.2160
Key Levels 1.1800, 1.1900, 1.2211, 1.2360, 1.2554
The pair may fall.
On the 4-hour chart, a downward correction of the higher level develops as the wave (2), within which the wave C of (2) forms. Now, the fifth wave v of C is developing, within which the third wave of the lower level (iii) of v has formed, and the local correction (iv) of v is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.1900–1.1800. In this scenario, critical stop loss level is 1.2211.


Main scenario
Short positions will become relevant during the correction, below the level of 1.2211 with the targets at 1.1900–1.1800. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2211 will let the pair grow to the levels of 1.2360–1.2554.

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