Trading_Jazz
Long

(4h) Entering Oversold // Cluster Below // IF=THEN ®

FX:GBPJPY   British Pound / Japanese Yen
697 4 24
FX:GBPJPY            

Waiting the price to sink inside the cluster/projection zone, and from there i will start building a case! Search for RSI Divergence for instance!

Note that we have already divergence between last bottom and the most recent one, but i do expect to get that same divergence in a oversold condition;

I will target previous structure low's, as first take profit zone (that should be synced with the 38.2% retracement ), and from there, i will close half of my position and move Stop Loss to breakeven. Free Risk Trade.

Safe Trade;
Comment: and the harmonic... ;)

awesome KING !!
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If you check H1 you will notice that a crab is forming around 157.240 give it or take it. ;)
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simple second wave abc correction from elliott wave point would be the same isnt it :)
+2 Reply
That would be a very deep corective wave, but giving a very nice R/R ratio though :)
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