FX:GBPJPY   British Pound / Japanese Yen
Idea is based on a combination of Elliot Wave theory, median line analysis and the use of Bollinger Bands . In addition Identification of support/resistance on the 7 close RSI has been carried out. The rationale behind this technical analysis is shown on the chart along with a specific target and stop loss. A close below this S/L will invalidate this idea. Please bare in mind that the target is not fixed, the longer it takes for the price to rise the higher the target will get. Good luck guys
Hi Hamzal, just saw your charts where you are:
- bullish GBP/USD
- expecting a small pop up in USD/JPY
would you agree that by this setup we should go even higher in GBP/JPY then 175.50?
Thx. Sinuhet
HamzaLeith Sinuhet
Hi Sinuhet, Yes indeed we should get a correction soon, after that I think we will continue higher!....plz check this out... cheers Hamza
HamzaLeith HamzaLeith
Plz forget the image above...here is the correct EW count with fib extensions
Sinuhet HamzaLeith
thx. That makes sense to me :-) I am waiting for that high to make a short trade of my life LOL... Based on my longterm count we should reverse around 178 and dip below 85... hard to magine at the moment... nice weekend.
HamzaLeith Sinuhet
you have an awesome count my friend....somewhere between 176 and 1.79 a reversal is very likely!!...HOWEVER, considering that it would be a correction....consider major chopiness. Good weekend to you too budy
Thanks your help and profit!!
you are welcome :)
i'm long based on up trend (H4)
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