Wave-Trader
Short

GBPJPY Moving accordingly Breaks up may form Flat ABC

FX:GBPJPY   British Pound / Japanese Yen
2226 15 64
I am expecting D wave in the triangle. Once price will hit my D wave then i will look for E wave and will watch for price action. Either we will break through or hold D wave and will reverse for E wave.
Comment: Holding top at C wave watching price action for D wave. If price breakdown the short term bullish trend line then it may confirm downtrend continuation of bearish trend here is the update.
Comment: If price come close to bearish trend line with corrective pattern sell breakdown
Comment:
Comment: I am still bearish on this pair.
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Sir, Do you expect the E wave on this setup or a breakdown?
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Welcome back....and Nice analysis...sir.
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Nice setup Bro keep up the good skill learning from the pro like you
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Great analysis. Thanks
+1 Reply
Wave-Trader faris_awad
Thanks mate
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I'm curious to ask , how do you know Wave C doesn't reach to wave A ?

Isn't it flat correction?
+1 Reply
Its in triangle formation now if break up then flat ABC possible my friend.
+1 Reply
sketchmaster Wave-Trader
Yeah, exactly. Especialy for this part (green box - wave A) looking very 5-waves-ish, which would suggest a flat correction. Always keeping an eye on plan b, ha? :)

Good job Wave-Trader!

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sketchmaster sketchmaster
my mistake, a flat would start with 3-wave leg...
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Great analyses
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