TimeFrame = 4Hrs (Short Term Trade for Moderate High & Medium Risk)
Signal = Buy at Market Price signal.
Risk Reward Ratio = Between 0.8 ~ 1.5 (high-medium risk)
We have three target profit for this signal.1st = 2.0300 , 2nd=2.0400 and Last = 2.0500 area.
Stop at below previous low at wave ii at 1.9945 area.
Great Britain Pound Elliott wave Analysis :-
Our point of view of current GBP/USD market is still on the bullish side.
We could see GBP/USD make new high this week, if it does then our first target will be at wave iii of Elliott Micro Wave Degree at 2.0300 area then 2.0400 for Subminuette wave iii and finally at 2.0500 for Subminuette extended wave iii.
If Cable failed to pass previous week high and make a lower low then last week then we can assume the cable done with a-b-c correction and prepared for early impulsive wave i.Then we can start calculate for our new entry at wave ii.
Below is our Elliott wave count for possible impulsive wave iii up trend :
By: Elliot Wave Signal Prognosis