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Growth as a part of correction

Growth as a part of correction | 25 July 2016

25 July 2016, GBP/USD

At the moment the price is based at the bottom of the corrective model, so in the near future a rebound and a slight surge are likely, whereupon the wave e of [b] will be formed. Based on expectations of growth as a part of correction, I've made an attempt to buy with stop loss and take profit orders being put very closely to the top of the triangle. Thus, we have to wait if the considered scenario is proved or rejected by market.

Vasiliy Lukin
FreshForex Analyst
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