Hello traders , GBPUSD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
Based on the previous wave count, we came to the conclusion that we are in a leading cycle.
From this structure, the five waves of waves 1, 2 and 3 are completely completed and completed.
And now what's the difference between analysts is the end of wave 4 and the beginning of wave 5, or are we still inside wave 4?
In our opinion, according to our count, wave 4 has been completed and we are now inside the wave of wave 5.
The first wave, Wave 5, confirmed the formation of the original Wave 5 by breaking the correction channel, and now it will probably be hit by a pullback to continue the uptrend, which will be related to Wave 4 of Wave 1.
Wave 4 started the correction and formed its first wave, wave a, this wave a was structurally 5 waves and wave b corrected up to 0.618% of wave a, and based on this, the zigzag nature of this pattern is confirmed.
Wave c of this zigzag should not descend much more than the end of wave a, and if we move more, we are probably inside wave 2 of wave 5.
The uptrend is confirmed when the trend line and the green circle are broken upwards.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ
Based on the previous wave count, we came to the conclusion that we are in a leading cycle.
From this structure, the five waves of waves 1, 2 and 3 are completely completed and completed.
And now what's the difference between analysts is the end of wave 4 and the beginning of wave 5, or are we still inside wave 4?
In our opinion, according to our count, wave 4 has been completed and we are now inside the wave of wave 5.
The first wave, Wave 5, confirmed the formation of the original Wave 5 by breaking the correction channel, and now it will probably be hit by a pullback to continue the uptrend, which will be related to Wave 4 of Wave 1.
Wave 4 started the correction and formed its first wave, wave a, this wave a was structurally 5 waves and wave b corrected up to 0.618% of wave a, and based on this, the zigzag nature of this pattern is confirmed.
Wave c of this zigzag should not descend much more than the end of wave a, and if we move more, we are probably inside wave 2 of wave 5.
The uptrend is confirmed when the trend line and the green circle are broken upwards.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ