OUTLOOK for JPYGBP for FRIDAY 8-2-2024
Confluence from impulse wave 3 and fib retracement informs the position to go short with the following parameters.
Profit targets;
38%-0.005143
50%-0.005118
sell stop entry is at 0.005147 which would have been initial target 1 but is already invalidated.
stop loss just above the 23.6% level at 0.005192.
The ending impulse move has multiple divergences and further confluence by a divergent bar and sao indictors point to two Wisemen in favour of the move already. I do not know what to make of the violated 23.6 level, we'll see how it goes.
Profit targets;
38%-0.005143
50%-0.005118
sell stop entry is at 0.005147 which would have been initial target 1 but is already invalidated.
stop loss just above the 23.6% level at 0.005192.
The ending impulse move has multiple divergences and further confluence by a divergent bar and sao indictors point to two Wisemen in favour of the move already. I do not know what to make of the violated 23.6 level, we'll see how it goes.
註釋
The invalidated retracement level in fact means that the retracement already ran its course. This is a very strong move upwards bizzare even. I do not think this idea will be activated any time soon
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