LONG TERM ANALYSIS ON GBPUSD

2019-11-23 00:12:22

The primary bear trend lasted 116 weeks
The double bottom from point X to B lasted 152 weeks
152 weeks is 1.3 ratio of the total time for the primary bear trend.

We would expect the next major change in trend to occur on the 1.618 time of 116 weeks
from the low at point X.
116 * 1.618 = 188 weeks
But we already have the time from point X to B = 80 + 72 = 152 weeks
188 - 152 = 36 weeks : The current bull trend can last 36 weeks from 3rd September 2019

Also, the bear trend from point A to B lasted 72 weeks which is exactly 0.618 time of the primary bear trend of 116 weeks and this is the major clue for the top of the bull trend.
116 * 0.618 = 72 weeks

72 weeks has 504 total days and 360 trading days
365 days = 1 year cycle
365 * 1.382 = 504 days

360 trading days is 1 complete cycle and a perfect circle 360 degrees
72 weeks = 72 degrees and 1 complete cycle of the 5-point cycles on a perfect circle
360 / 5 = 72 degrees

Please check next post for how the 72 degrees affect the bull trend and determines exactly where the top might be.