GBPJPY, corrective cylce (wave 2) will end soon. Potential long

2022年8月30日

The GBPJPY is inside a corrective cycle that started on June 2022.

It is doing a WXY structure in the primary degree (green) and we expect that it will be doing another bearish cycle in a lower degree cycle (minor degree) until it reaches, at least, the 158.944 level.

We will be monitoring this pair to look for long opportunities once the 158.944 level is reached as our swing trade.

2022年8月30日

註釋

Typo error in the title: It is not the end of wave 2. it is the end of wave 4.

2022年9月8日

取消訂單

Trade setup cancelled as the channel has been broken. Using the correlation with the other JPY pairs, it seems the wave IV (cycle degree) has ended. That will only be confirmed when the price brake the 168.9 level.

Trade safe and see you in the next trading opportunity