GBPJPY Bullish Swing
Updated
A move here on GJ to the upside to complete an internal 5 wave sequence of a larger degree 3rd wave bullish impulse. Finding support with confluence of the equal legs of the complex and simple corrections. Will be entering at the 1.236 of the complex equal legs near the 1.0 of the simple equal legs.
Bullish short term sequence and with news coming out for JPY this week should give us the push we need either down to the zone or up from the zone. Buyers should kick in at the equal legs and we can ride the long.
Cautionary trade - the move will not be long lived. I will be looking to close at my red box which is the inverse retracement of 1.236 of wave 3-4. We might see higher prices but I prefer getting my profits and getting out clean.
Long trade idea here manage risk
Bullish short term sequence and with news coming out for JPY this week should give us the push we need either down to the zone or up from the zone. Buyers should kick in at the equal legs and we can ride the long.
Cautionary trade - the move will not be long lived. I will be looking to close at my red box which is the inverse retracement of 1.236 of wave 3-4. We might see higher prices but I prefer getting my profits and getting out clean.
Long trade idea here manage risk
Comment
We dipped into the zone and partial profits were taken with SL secured at entry. Risk free position closed. Profits secured. Will find new entryTrade closed manually
Closed with partial profits taken and stopped at entry
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