It's Raining GBP!
A good time to update the GBPJPY chart, lets start by firstly digging up the leg we are following:
So far a very good example of how to trade waves, we are now tracking the ending of wave 2 and a transition into the impulsive 3rd leg in this journey. The invalidation for this entire move comes into play above 136.0x ...I am wary of a sweep and remain cautious of a stop hunt... similarly to the way we traded a position live on Tradingview to the downside during the first leg:
We'll see how it plays out over the coming sessions.
So far a very good example of how to trade waves, we are now tracking the ending of wave 2 and a transition into the impulsive 3rd leg in this journey. The invalidation for this entire move comes into play above 136.0x ...I am wary of a sweep and remain cautious of a stop hunt... similarly to the way we traded a position live on Tradingview to the downside during the first leg:
We'll see how it plays out over the coming sessions.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.