GBPJPY, 2hr tf, sell the end of wave-iv
Our first trade for May is GBPJPY.
As you can see we are on the process of 1st wave. For now, we might see price continue going down towards 150.66 area which could provide us around 80 pips.
We will use wave-i as our protective stop loss because wave-iv could not touch wave-i in Elliott Wave theory.
Sell GBPJPY 151.47
Stop loss 151.75 (28 pips)
Take profit 150.66 (81 pips)
RR ratio 1 : 2.8
Use only 1-2% risk
Good luck
