GBPJPY FINAL LONG POSITION (ELLIOT WAVE THEORY)

It looks like the final 5th is in motion after we have completed the 4th corrective wave. 5th wave is usually the same length as the 1st wave.

Be very careful as I assume their will be huge drop coming for this pair especially as new highs are being created technically (don't buy high) but fundamentally, it doesn't look good.





*All views are my opinion, I am not selling signals and I am not a financial advisor. Trading consists of substantial risk*

(TRADE RESPONSIBLY)

Comment:

Looking at how GJ is moving. There could be a possibility of a continuation of wave 4. Where the market has ended off for the week it looks like we have just finished off the X wave and we are currently heading into a Y wave to complete our wave 4.

(This could be another possibility as I'm still expecting huge downside to this pair)

Comment:

Check the related idea below. (Updated chart)

Trade closed manually