$GBP vs $JPY 4H Chart.Incomplete Flat Pattern | #gbp #jpy #forex

FX:GBPJPY   英鎊 / 日圓

Previous GBPJPY development from 135.595 ( end price of (a) corrective wave) has completed unfolding into a corrective Zig-Zag pattern to 152.862 (end price of (b) corrective wave)
Labelled in minuette degree, a. - b. - c. and subdividing 5-3-5, the Zig-Zag can be ‘proofed’ using fib-price-ratios.

What can be derived from this Zig-Zag is that GBPJPY remains within a larger corrective structure, possible of a flat pattern (an expanding or a running flat).
Original downside targets for the next impulsive wave (c) are towards 139.000(+/-) for a running flat or 133.000(+/-) for an expanding flat where fib-price ratios confluence pinpoint.

Should expect a price-rejection around these levels which would be corroborated if a preceding high would be broken, and/or the upswing develops into a five wave sequence.

Trade with Discipline

評論: One more move up
評論: Still in correction, don't miss the break
評論: Broke out, looking for some correction to buy
評論: Target hit, monitoring price for the next move