Zigzag is about to be formed | 17 فبراير 2016
17 فبراير 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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
