Confirmation of a completed wave 4 has yet to be confirmed. AO cross below 0 confirms the completion of the 4 wave weekly. Channel traders can use a channel brake for confirmation. Wave 1 equality and fib 1.618 extension
gives us a projected price of the 114-113.6 area. Our trade zone will be the blue box to protect us from a truncated fifth wave. At that point protect your short positions with good trade management that will also allow you to exploit the maximum of the fifth wave projection. I will be looking for short opportunities in GU to trade pound weakness. Combined with projected dollar strength GU can be giving us some high probability opportunities.