DislikedHello Again to all members/visitors of Elliott Wave Outlook. This my 4h count for Gbp/Usd The gold 5th wave has extension. In frost and prechter book - it is written - 'Fifth wave extensions, truncated fifth and ending diagonal all imply same thing:dramatic reversal ahead.' The retracement in Gbp/Usd to up-side hasnt reached even 50%, As 2ed waves all most always retrace 61.8% of previous wave, it could go higher. Any reviews? Ray {image}Ignored
I don't agree with your count for downside, the first set of 5w were as follows;
We then entered our acceleration channel for the 3rd wave;
You can see on the daily how the selling intensified and broke out of the base channel;
Now we are corrective and heading for the weekly wedge retest.
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