lawlee9
Short

GBPJPY on it's downward path to complete the 5th wave

FX:GBPJPY   British Pound / Japanese Yen
146 2 5
This is a larger time frame view of what we can expect from the GBPJPY             . Ultimate target is 106.573. However, I'm looking for a retracement into the 154.655 level to get in short. I will play both long and short positions along the way, but this is just a guidance of where we're ultimately looking to go.
Comment: Looking for a corrective structure in the rectangle box area to send this lower. This is a high quality reversal pattern, so once we get to the target C point, I'm on the lookout for a pin indicating clear rejection. My entry would be the open of the next candle with a stop near or at the lowest low.

excellent chart and comments
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lawlee9 dewpoint
Thank you. Appreciate your feedback.
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