GBPJPY is likely to have completed wave 4. Under Elliott wave principle, wave 4 should not overlap with wave 1. ABC correction as wave 4 probably ended with the top of wave 1 and 200 SMA (1 hour chart) providing support. This is short-term buy. I will close as soon as wave 5 seems completed or the price does not react as I expect.
Trade closed: stop reached
I trade forex, cryptocurrency, stock, futures mainly based on Elliott Wave principle.
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I trade forex, cryptocurrency, stock, futures mainly based on Elliott Wave principle.
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.