Hello friends
In the GBPJPY currency pair, we see a complete 5-wave pattern
Considering that the 5th wave meets an important resistance, we expected the price to return, which has been realized
Now 5 downward micro-waves have formed
In corrective waves, only zigzag has 5-3-5 structure
Therefore, we expect an abc upwards and close to the resistance, then we have a price reversal downwards
This movement will be in the form of 5 waves and will be at least 100% of wave A from the end of wave B and up to 1.618 of wave A.
Be successful and profitable
In the GBPJPY currency pair, we see a complete 5-wave pattern
Considering that the 5th wave meets an important resistance, we expected the price to return, which has been realized
Now 5 downward micro-waves have formed
In corrective waves, only zigzag has 5-3-5 structure
Therefore, we expect an abc upwards and close to the resistance, then we have a price reversal downwards
This movement will be in the form of 5 waves and will be at least 100% of wave A from the end of wave B and up to 1.618 of wave A.
Be successful and profitable