Sep 17th – GBPUSD

  • Posted by Houssine
  • Date September 17, 2021

You may recall that a few days ago, after labeling wave (2) as a huger disproportioned Expanded Flat, I commented on the fact that typicall when a count is forced as we did with that one, we would be forced to adjust the count at a later time.
So it does not come as a surprise that we need to start looking for other explanations and models in this market… Our wave 2 low was violated yesterday, but the decline is still in three. With that in mind I had suggested to keep the Critical Support at 1.3725 instead. But we still need to find another explanation… We’ll do that on Monday after price action today gives us a better clue.
For now, let’s keep Critical Support at the same level.

Houssine

Prof. Aldo Lagrutta is an awarded Certified Financial Technician from the International Federation of Technical Analysts and holds several financial market designations, including the coveted Certified Elliott Wave Analyst.

He is a also a member of the Society of Technical Analysis, holds the CFT’e and is a recipient of the Bronwen Wood Prize bestowed by the Society of Technical Analysis in London.

Prof. Aldo Lagrutta grew up as a music child prodigy and became the youngest Professor to teach in several universities and conservatories around the world. He performed for 2 decades as a concert guitarist in Europe, Africa, North and South America.