Currently undergoing a correction / retraction.
The daily chart above displays the secular inverted head & multiple shoulders forming the current market bottom / support. The chart shows a continuous running plot of positive degree (3+4) momentum. The conclusion, therefore is the current retraction in sterling dollar is a shoulder formation between <2340-2270> (fibs on the right).
The motive wave that has been moving the market higher as of 1.18 bottom, is shown in green shade & segregated into an Elliot structure. This motive wave will be acutely investigated in the next / coming update.
To be followed
Summerset
The daily chart above displays the secular inverted head & multiple shoulders forming the current market bottom / support. The chart shows a continuous running plot of positive degree (3+4) momentum. The conclusion, therefore is the current retraction in sterling dollar is a shoulder formation between <2340-2270> (fibs on the right).
The motive wave that has been moving the market higher as of 1.18 bottom, is shown in green shade & segregated into an Elliot structure. This motive wave will be acutely investigated in the next / coming update.
To be followed
Summerset
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.