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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 14, 2020

American Express Co.: wave analysis 14 February 2020, 08:24


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 134.50
Take Profit 142.50, 146.00
Stop Loss 129.39
Key Levels 114.44, 123.34, 129.39, 142.50, 146.00
Alternative scenario
Recommendation SELL STOP
Entry Point 129.35
Take Profit 123.34, 114.44
Stop Loss 131.35
Key Levels 114.44, 123.34, 129.39, 142.50, 146.00
The price may grow.
On the 4-hour chart, the fifth wave of the higher level (5) of A develops, within which the wave 5 of (5) forms. Now, the third wave of the lower level iii of 5 has developed, and a local correction has formed as the wave iv of 5. If the assumption is correct, the price will grow to the levels of 142.50–146.00. In this scenario, critical stop loss level is 129.39.


Main scenario
Long positions will become relevant during the correction, above the level of 129.39 with the targets at 142.50–146.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 129.39 will let the price go down to the levels of 123.34–114.44.

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