GBPUSD Wave Analysis
Official 5 waves are done now!
If you are looking for a short opportunity from here, the first 2 possible targets would be the 0.382 fib retracement which coincides with the 4th wave, and the 2nd target would be at the 0.5 fib retracement where the 1st wave topped to take your profit.
At the top of this uptrend we can clearly see now that 2 shooting star candles formed followed by a hammer and now by a hanging man candle which implies that the uptrend is almost done and a reversal is in play.
Always take into consideration doing your own homework and do your own analysis before entering a position.
If you are looking for a short opportunity from here, the first 2 possible targets would be the 0.382 fib retracement which coincides with the 4th wave, and the 2nd target would be at the 0.5 fib retracement where the 1st wave topped to take your profit.
At the top of this uptrend we can clearly see now that 2 shooting star candles formed followed by a hammer and now by a hanging man candle which implies that the uptrend is almost done and a reversal is in play.
Always take into consideration doing your own homework and do your own analysis before entering a position.
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