manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

Zigzag is about to be formed

17 February 2016, GBP/USD

The considered pair also follows our plan.

In the course of yesterday's trading, the price has fallen sharply, thereby completing formation of a zigzag, formed as the wave ii of the emerging upward impulse.

Under the alternative scenario, the price may get lower, and thus we will get the wave [v] of the downward momentum.

Therefore, in order not get into hot water, we should wait for a sharp surge to open a Buy position with a Stop Loss order being put at the local Low. Meanwhile we just still monitor the situation.

Zigzag is about to be formed

Vasiliy Lukin
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .