aslamhammad

GBPJPY H4 Chart Triangle wave + Wedge

FX:GBPJPY   British Pound / Japanese Yen
54 0 1
Well at the moment we're stuck in a wedge+ triangle elliot wave .....But for the triangle to be sucessful, i think the price has to come back down near a bullish rejection level.....Current price is trading around a bearish rejection level 194.54.... Bullish rejection level is around 193.45.......So, i think initially we can expect price to come down from 194.50 (between 76.4-61.8 Fib level), back to 193.50.....Later if i'm correct about this rejection candle @ 193.45.....Than we'll see price come back targeting 195 again.
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