Moraelin

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Markets Allocation
100 % forex
Top Mentioned Symbols
GBPUSD 50% | 1 USDJPY 50% | 1
Moraelin Moraelin GBPUSD, 60, Short ,
GBPUSD: Rising wedge on GU may be forming
41 0 1
GBPUSD, 60 Short
Rising wedge on GU may be forming

On the 1H chart we might identify a rising wedge forming which is a bearish signal. I'll be looking at previous resistance/support level to define an entry for a short.

Moraelin Moraelin USDJPY, 240, Short ,
USDJPY: Elliott wave take on UJ
51 3 1
USDJPY, 240 Short
Elliott wave take on UJ

I believe we're approaching final leg of an UJ Elliott wave which may lead us to 114.8 (TP1) - 114 (TP2) levels, which can prove some support and start the retractment pattern. I expect leg 4 to continue a bit more towards MA200 before the next leg down. Disclaimer: this is a personal opinion, I'm not responsible if you decide to follow this.

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