British Pound / Japanese YenUpdated GBPJPY In a correction - Ride down and then look LONG
Hi everyone, please check my last 2 chart ideas (1 for the correction, the other for the Higher Time Frame Overview - LONG). OH and please excuse the title which was a typo, it was meant to be 250 pips.
Once we ride this correction down and it's complete, i'll be looking for the long moves.
If we enter long at the end of this correction, the target will be approx 360 - 550 pips.
Once we ride this correction down and it's complete, i'll be looking for the long moves.
If we enter long at the end of this correction, the target will be approx 360 - 550 pips.
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Watching out for a possible bull flag/ABC Correction here in this zone aswell.
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Sorry re-arranged the current ABC wave lines. Doesn't particularly matter for me, as all i need to know is that we are correcting, i see the number of legs and trade off the back of that knowing that the corrective should be over soon and an impulsive to start. Don't get too caught up on being precise or too technical when it comes to waves. Keep things simple. I used to get waves on the higher time frame and break them down every single time frame all the way down to the 1 minute time frame even. Once you make 1 mistake in the wave counts, your trades can become completely off and that will cause inconsistency in your results.
Keep things simple.
If you close your eyes, choose a random side by flipping a coin, you can be profitable with good risk and trade management. This has been prove.
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proven*.Note
30 minute candle closed strongly. Looking for further behaviour from the market. Note
Keep holding that short:Trade active
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Possible reversal zone here but i'm leaning more towards this going lower. Let's see how price moves Note
Possible reversal Note
But potential of continuing downNote
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Breaking out right nowNote
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Potential new downtrend line. Yet at the same time possible double tap here before explodes. Always look at both sides of the coin.
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Shroted but got orders on a long above the recent high.Note
Care of the bounce and push up alsoNote
Potential reversal https://ttps://www.tradingview.com/x/pgiTkQvH/
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Broke out. Looking to take profits soon.
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ABC Complete, impulsing up.approx 350 pips target minimum.
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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.