This here is my long analysis for GBPUSD with a target of roughly $1.4400. If you look on the overall bigger Timeframe such as the daily, you'd be able to see bearish momentum came to a holt in mid December, followed by a rush in of impulse buyers into the market. This here would count as Wave 1 of the new trend, we are currently pulling back as a correction & now I am expecting one final move up towards $1.44 to complete Wave 5 of the Elliot Wave Theory.
This is a swing trade so it will take a long time to reach the target, so a beautiful trade for us swing traders. Take the trade & just chill! After Wave 5 is complete, we can then looking at entering the correction as shorts & taking a bigger position (increased lot size) with the profit banked from this analysis. Win-win situation.
This is a swing trade so it will take a long time to reach the target, so a beautiful trade for us swing traders. Take the trade & just chill! After Wave 5 is complete, we can then looking at entering the correction as shorts & taking a bigger position (increased lot size) with the profit banked from this analysis. Win-win situation.
