FX:GBPJPY   British Pound/Japanese Yen
216 9 1
Today is the BOE rate decision which is co inciting nicely with the end of a wave 5 move. I presume that the decision will trigger a retracement due to the rate being cut.

Related Ideas

May not rise but what will it go if the rate remain the same? It always goes the opposite direction? :)
Reply
TomBurgoine veritasfx
If the rate stays the same then I think it will go into an extended 5th wave before making the ABC move short. Its a waiting game. let the market come to you bro!
Reply
Looking to the 15 min chart I am starting to see a reversal. Confirmation for me will be a break of the support trend in conjunction with me MacD hourly crossover.
Reply
veritasfx TomBurgoine
staying the same :)
Reply
Now for the ABC short as predicted.
Reply
TomBurgoine TomBurgoine
this didn't happen due to extended wave 5
Reply
Now we are looking at the end of the extended wave 5. Drawing a Support trend from the extreme of wave 4 will give you your entry. for more confirmation and a safer trade wait for the 140.00 break short.
Reply
Looking like a B wave end. Go short on the wave C when it breaks the B wave support.
Reply
dragging a bit, we can see that the A wave is complete and a break of the support trend will confirm the B wave completion. I have taken a short this morning expectant of the C wave to get underway down to around the 136.00 mark.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out