GBPJPY is offering up a nice looking EW 5 wave setup pattern. From current levels it could, if it plays out deliver 50-80 pips with a well defined stop loss. The small pink line is my choice to play should price break down. With stops around the 131.00 round number. My orders are stop sell orders on this one.
My reasoning for this kind of order is simply this...
I...
Yes I know my earlier post was about wanting Sell this pair around the 1.2300 level. However, with this impulsive and sudden move higher and taking into account of some potential dollar positive news on Friday ( tomorrow / 8/23/19 ) I can see a run up in price based on a EW 5 wave setup I see on the hourly or 30M charts. I know they are short term charts, but this...
