Trade ideas for GBPJPY by Hardi
Price right now on horizontal resistance level. There is also EMA-50 on this resistance level so we could say this is an area of confluence.
Yesterday we see an aggresive meltdown on GBPJPY, which i assume as the wave-iii.
Right now, I am assuming we're at wave-iv because it is retracing the recent meltdown. We will use wave-i as our protective stop loss based on Elliot Wave Theory
Sell GBPJPY 153.70
Stop loss 154.20
Take profit 150.70 (6R)
Use only 1-2% risk
Good luck
Price right now on horizontal resistance level. There is also EMA-50 on this resistance level so we could say this is an area of confluence.
Yesterday we see an aggresive meltdown on GBPJPY, which i assume as the wave-iii.
Right now, I am assuming we're at wave-iv because it is retracing the recent meltdown. We will use wave-i as our protective stop loss based on Elliot Wave Theory
Sell GBPJPY 153.70
Stop loss 154.20
Take profit 150.70 (6R)
Use only 1-2% risk
Good luck
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.