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lawlee9

GBPJPY - start of bullish 5th wave

Long
British Pound / Japanese Yen (FX:GBPJPY)  
lawlee9 Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis
5
2
trendanalysis chartpattern waveanalysis
Price bounced off channel, and heading to the top to finish the 5th wave of the corrective C wave on the higher time frames.
After the first run up, look for a pull back to create an inverse head and shoulder to push higher.

Long entered at 145.282
Stop 144.462
Comment:
Another entry for a long at 147.225 area. Limit order may not trigger due to spreads, so leaving one for 147.230.

snapshot
Comment:
Daily view.
snapshot
Comment:
Potential for this down side move to break out of an ascending trendline so that price moves sideways to develop into the first long target.

snapshot
Comment:
We should see a bounce from here.
snapshot
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