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Elliott_Wave_Count
Jan 18, 2018 11:24 AM

GBPJPY EWC 8hr 

British Pound/Japanese YenFXCM

Description

The length of wave 3 in terms of price range is 6.6. Due to rules, Wave 3 can't be the shortest among the motive waves.
So current count is valid only before ~157.
There is no clear trade setup on this moment, i'm looking for reversal.

Comment

We have reached C wave up, and reversal right on schedule.

Trade closed: target reached

Comments
NeverNO
almost forgotten... here nr. 3

NeverNO
i have 3 scenarios - here nr. 2
NeverNO
hi,
I also have 2 higher levels (red dashed lines) but that would come into question only if the red resistance line with weekly-close above 154.70 would be outbid, otherwise the 5 would end here about 154.7 ... how do you see that?
Elliott_Wave_Count
@NeverNO, my daily chart. Hope it helps. Your option is also possible, but you are charting motive impulse wave (leading diagonal) as big wave 1? I see the full picture as correction.
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