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GBP/USD: general analysis 26 February 2020, 13:50

GBP/USD: general analysis 26 February 2020, 13:50 Scenario Timeframe Intraday Recommendation BUY Entry Point 1.2940 ...

Feb 13, 2020

Altria Group Inc.: wave analysis 13 February 2020, 08:49


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 45.41
Take Profit 51.75, 57.89
Stop Loss 44.09
Key Levels 39.23, 44.09, 51.75, 57.89
Alternative scenario
Recommendation SELL STOP
Entry Point 44.05
Take Profit 39.23
Stop Loss 45.65
Key Levels 39.23, 44.09, 51.75, 57.89
The correction ends, the price may increase.
On the H4 chart, the development of the downward correction of the higher level as wave 2 completed and the formation of wave 3 began. At the moment, the first wave of the lower level 1 of (1) of 3 is formed and a downward correction development is almost complete as wave 2 of (1), in which a of 2 wave is forming. If he assumption is correct, it would be reasonable to expect the continuation of the asset's price growth to 51.75–57.89 after it is complete. The level of 44.09 is critical and stop loss for this scenario.


Main scenario
Long positions are relevant after the correction is completed above the level of 44.09 with targets at 51.75–57.89. Implementation time: 7 days and more.
Alternative scenario
Breaking down the level of 44.09 and consolidation of the price below it will allow the asset to continue falling to the level of 39.23 and lower.

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