GBPJPY SHORT
Updated
GJ seems to be nearing the end of a complete 8 wave cycle- 5 impulse waves and 3 correction waves - Our current position in this wave cycle is in the correction phase. However, it seems to be coming to an end.
I am expecting the completion of a final wave to price level 153.000.
This is a confluential zone where we have:
-Support Zone
- 78.6% fib retracement level of the impulse cycle
- 61.8% fib extension level of waves (i) - (iv)
Feel free to let me know your opinion in the comments section. Have a good trading week.
I am expecting the completion of a final wave to price level 153.000.
This is a confluential zone where we have:
-Support Zone
- 78.6% fib retracement level of the impulse cycle
- 61.8% fib extension level of waves (i) - (iv)
Feel free to let me know your opinion in the comments section. Have a good trading week.
Note
Trade active
Market has reached my entry zone, Trades opened
Trade closed manually
Why I love a good risk management practice, instead of hitting my stop loss, this trade was stopped out at break even.
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