GBPJPY 5th Wave Completion? Short

British Pound/Japanese YenFXCM

Description

⋅ Sep 28, 2020 11:52 AM

I believe I read this setup wrong when I published on the 25th.

I believe there is another wave that needs to complete before price corrects.

If this is the case, I see two possible scenarios; 1. price reaching the retracement extension @ ~129.XX or price reaching the last low @ ~131.75.

What are your thoughts on this one?

Trade closed manually

⋅ Oct 6, 2020 12:40 PM

Comments

Khiwe

⋅ Oct 4, 2020 1:46 PM

Your trend-line from the 18 May 20 is confusing and interesting, perhaps it adds to resistance. I think you might reach 0.382 of your Fib and then go up to test the 4HR Resistance.

alaakamel

⋅ Sep 28, 2020 11:55 AM

good luck