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Lengthen in third impulse wave.

14 March 2016, GBP/USD

Hour- chart of GBP says about buying.

Decrease impulse is ending information about further decrease we can receive from [iv] wave which has shape of horizontal triangle.

As we know Horizontal triangle is last but one model and after their forming price has one more impulse or correction movement in trend direction after that we can see turn back.

We can observe the same situation there was down impulse movement after that it appeared horizontal triangle. (а,b,c,d,e), and then pair decrease in impulse form is continuing and [v] wave was formed. After ta it was pairs turn and grows are looks like impulse growth.

in this impulse there are starting iii wave which has lengthened form.

On this chart we can see that upward movement have good potential and for this reason deal on buy was opened.

 Lengthen in third impulse wave

Vasiliy Lukin
FreshForex Analyst
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