This is another possible scenario that GBPJPY could be following.
We could be in Wave B of Wave X in the higher degree. If Wave B is confirmed there is a possible chance it will finish up as an expanded flat, which will then give us our Wave C up higher to complete our Wave X in the higher degree.
Let me know what you think.
#ElliotWaveTheoryRocks
This is a possible scenario of GBPJPY. We could be in a triangle correction, which moves in an ABC (DE possible to come) structure. 3 waves between each waves.
This pair is best to be patient and see what it does. However, the pair is bearish in the short term.
Would this pair follow its triangular structure? Or Has this pair already completed its ABC...
