GBPUSD

price went into making the correctional wave pattern after the impulse move from equilibrium. Markets closed with price still bullish on Friday to signify the last wave of the correctional move which is expected to give the bears back control of the market while they aim to push price further below the 1.3731 three (3) weeks lowest low. Our entry is expected to be at the premium region where the institutions will be looking to sell while price is about equilibrium and in premium which is also between the 61 - 78 Fibonacci point. the last confirmation for our entry at this point is the imbalance resting above price from where the first wave of the correctional move started at 1.4008 price point.
The trade is expected to be a long term trade that will take out the equal low at 1.3668 and move all the way to the low at 1.3132.
the total profit target is 870 pips with a 20 pips stop loss giving a risk to reward of 1:45.
Open to suggestions and observations.