CatchingPipsfx

CatchingPipsfx

Good Day Traders, Price is forming a rising wedge where it is met by RESISTANCE, and as we know...well some of you know, this sort of market structure indicates a solid push to the downside, so for this market condition, we will wait for that RESISTANCE to be broken and retested for a BULLISH BIAS and wait for the RISING WEDGE to be BROKEN for a BEARISH BIAS.

CatchingPipsfx

GBPJPY is acting based on the Impulse waves of the Elliott Theory, as seen, Price bounced off the Trendline Support making the 4th impulsive move to the upside (5th impulse move) from there, Price will fall hard breaking the Rising Wedge Pattern to the downside.

CatchingPipsfx

Another Shot at this. PRICE SEEMS TO HAVE FOUND SUPPORT, NOW WAITING FOR SOME MOMENTUM TO PUSH PRICE.

CatchingPipsfx

Everything is Self-Explanatory