Another of my Elliot wave charts. We are in an ending diagonal pattern for GBPJPY. This whole structure is a 5 wave corrective wedge pattern. And we are in Corrective wave 4 now.
Expect bearish impulsive wave 5 to begin soon, and it will take us to 120 region
Short : 146.8
SL : 148.6
TP : 120+ region.
Expect bearish impulsive wave 5 to begin soon, and it will take us to 120 region
Short : 146.8
SL : 148.6
TP : 120+ region.
Note
This is the long term swing chart. Expect Wave 5 to begin soon
Note
This is a more detailed short term chart.
Note this is wave E of the above corrective wave 4
As such, if my wave count is correct, wave E has ended at 146.95. I will be shifting my SL to 147.3.
Note
Looks like a miscalculation on my end. Expecting GJ to hit 148 before turning downwards.
Trade still active, shifted SL to 148.7, and will add one more position if it hits 148.
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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.