Elliot Wave Analysis by Wave FX GBPUSD to Decline. Target 1.3400

14 apr 2021

Hi Traders, here is my analysis on GbpUsd.

My method is based purely on Elliot Wave Principles and Price Action.

I’ve added a Key to help you understand my POV on the current price action.

Confirm Buy: (Once price breaks above, I will be looking for the bulls to control the market.)

Confirm Sell: (Once price breaks below, I will be looking for the bears to control the market.)

INVALIDATION (This means my analysis is incorrect and I need to revisit the drawing board)

Setup Invalid (market still developing or correcting) 

12345 ( Elliott 5 wave impulse cycle

ABC (simple market corrections)

WXY (Complex correction, 2 basic correction)

WXYXZ (Complex correction; 2 or more simple or basic correction)



Types of Correctional waves and their internal structure count:
a-b-c

Flat Correction (3-3-5)
Irregular correction (3-3-5)
ZigZag correction (5-3-5)
a-b-c-d-e
Triangles (3-3-3-3-3)




I hope you find my analysis helpful. Please make sure that you are following your own strategy when placing trades. 
You comment and feedback are appreciated.