Using the fixed range volume profile tool over the last two days, we can see we have a POC at ~1.628. The last rally from approximately the 5th-11th resulted in a POC at around 1.511 which we hovered around dipping slightly below before starting the next rally up. If we follow the same trend this weekend, we should treat 1.628 as the POC before heading higher....
I used trend based Fibonacci extension to draw from high of wave A to low of wave A, then placed the 100% level at end of wave E. I'm thinking the 0% target may be reached and then I'm going to short - but I figure this will top out in a couple of weeks at 189.259 (0% level or technically 100% or sooner - RSI is right at 70). Thoughts? Especially on how I could've...
RSI is near overbought, GBPUSD 5th wave would've just touched the 100% fib level of the 4th wave. I'm new at EWA, please roast me. I think I'm correctly following the rules, but don't feel confident yet.
