Elliott Wave & Harmonic Pattern Analysis

On the H4 chart, price had completed Wave ii of iii within the broader Wave 3 structure, finding support at the WH-8495 zone near the 38.2% Fibonacci retracement ($93.20). The a-b-c corrective structure came in clean and price was showing early signs of turning. I projected Wave iii of 3 upward targeting the 127% Fibonacci extension at $113.50, with the 78.6% level at $102.44 as the first checkpoint. Entry was timed off a reversal candle on the lower timeframe. Price has since bounced from the wave ii low and is tracking the projected path — still developing toward the $113 target.

GBP/USD had been in a sharp decline and price reached the 161.8% Fibonacci extension at 1.33284 — the classic D-point completion zone for a BuCra (Butterfly/Crab) harmonic pattern. With the Weekly S2 level confluent at the same area and the oscillator deeply oversold, the setup was high probability. The plan was to wait for a reversal candle on the 40-minute chart, then drop to the 7 or 20-minute chart for a precision long entry. The BuCra completed exactly at the 161.8% level and price reversed sharply, rallying over 100 pips within two days back toward the 1.344 area — confirming the pattern played out as mapped.

EUR/AUD was in a textbook 5-wave decline with Waves 1 and 2 already confirmed. Wave 3 was approaching exhaustion at the 161.8% Fibonacci extension (1.61176) — a level that stacked perfectly with Weekly S2 support and the WL-6128 zone, making it a high-confluence area for a Wave 3 terminus. The "3 ?" label marked where I expected the impulse to finish, with Wave 4 projected to retrace back toward the 1.633–1.636 area. After confirming a reversal candle on the 40-minute chart and entering on the lower timeframe, price bottomed precisely at the 161.8% FE and launched into Wave 4 — rallying over 200 pips to 1.633 within six days exactly as projected.

GBP/AUD was deep into a third wave decline with Waves 1 and 2 clearly defined on the 40-minute chart. The 161.8% Fibonacci extension at 1.85863 was the target for Wave 3's completion, aligning with Weekly S2 support and the WL-8695 zone for a strong confluence cluster. The "3 ?" label marked where I expected the impulse to exhaust, with Wave 4 projected to retrace upward from there. Entry was confirmed on a reversal candle on the 40-minute chart, then executed on the lower timeframe. Price hit the 161.8% FE precisely and reversed into Wave 4 — climbing over 150 pips to the 1.881 area within five days, tagging the WH-8862 resistance on the way up exactly as anticipated.