Irregular zigzag | 15 March 2016
15 March 2016, GBP/USD
Pound decided to have fun.
Opened deal on buy was closed by stop-loss.
Bulls couldn’t develop success and price starts decreasing.
The reason of this odd behavior we can see in this.
Possibility correction in iiwave is formed irregular and wave b of ii, renew price maximum in this time in normal impulse five waves are responsible for renovation.
So probably the wave b was formed, and for zigzag need to decrease in the conclusion.
Aim of this decrease is level 61.8% fibo, in this level we can expect conclusion of forming zigzag and wave ii. So we can try carefully sells.
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.
