Get started
HayatoDragonFX

GBPJPY, 4hr tf, sell the end of wave-iv

Short
British Pound / Japanese Yen (FX:GBPJPY)  
HayatoDragonFX  
FX:GBPJPY   British Pound / Japanese Yen
Support and Resistance Neo Wave Supply and Demand GBPJPY gbpjpyshort gbpjpyanalysis gbpjpysell priceactiontrading priceaction elliottwaveprojection elliottwaveforecasts
2
0
supportandresistance neowave supplyanddemand gbpjpy gbpjpyshort gbpjpyanalysis gbpjpysell priceactiontrading priceaction elliottwaveprojection elliottwaveforecasts
Trade ideas for GBPJPY by Hardi

Price right now on horizontal resistance level. There is also EMA-50 on this resistance level so we could say this is an area of confluence.

Yesterday we see an aggresive meltdown on GBPJPY, which i assume as the wave-iii.

Right now, I am assuming we're at wave-iv because it is retracing the recent meltdown. We will use wave-i as our protective stop loss based on Elliot Wave Theory

Sell GBPJPY 153.70
Stop loss 154.20
Take profit 150.70 (6R)

Use only 1-2% risk
Good luck
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.