GBPAUD Trade Idea - Elliott Wave
Let’s discuss the price chart of the GBPAUD currency pair based on the 480 minute timeframe.
From the Elliott Wave perspective, the price has completed the 5 wave impulse sequence down on April 5. From that point, we have been trading higher in a corrective formation which appears to be carving out a W, X, Y pattern.
From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, bottomed on April 3 (green vertical line), and is projected to form a top on June 17.
Based on this, we can expect prices to move higher after the minor X (circle) is complete, which should be within the next few days or so at the latest. The price should continue until it reaches a distance equivalent to that traveled in wave W (circle).
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From the Elliott Wave perspective, the price has completed the 5 wave impulse sequence down on April 5. From that point, we have been trading higher in a corrective formation which appears to be carving out a W, X, Y pattern.
From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, bottomed on April 3 (green vertical line), and is projected to form a top on June 17.
Based on this, we can expect prices to move higher after the minor X (circle) is complete, which should be within the next few days or so at the latest. The price should continue until it reaches a distance equivalent to that traveled in wave W (circle).
If you find this analysis useful, make sure to press the “Like” button and Follow us.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.