GBP/JPY short 4h
Updated
After a bullish Trend on Daily we are now in correction. So we are bearish in 4hour chart. I think it´s Daily C Wave that just started after a double ZigZag
Note
TradingIdea is still valid. So what happened. The complex correction enlarged from WXY to WXYXZ.It looks like ZigZag-X-ZigZag-X-expanding triangle.
expanding triangle, one of the most hated pattern…
But the good news:
1. We already have a triple complex correction.
2. The Rule “If a Triangle is occuring in a complex c., than it is nearly always the last wave of the correction.” confirms the count
So I will enlarge my short position. Setting some sellstops and adjust them.
And will look for signals near
cypher zone,
pink trendline (W1-W4 of the motive wave of higher timeframe connected,
and timecluster, since the wavelength was pretty equal in the past
Note
Very nice, everything as aspected, there was the first moveTrade active
reenterzone hitted.
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.