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GBPJPY, Rising 5 Wave Sequence?

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBPJPY, 4 Hour Within the GBPJPY 4 hour chart I am spotting the potential development of a basic Elliott Wave 5 wave sequence. See (1), (3) and the possible (5?) impulse waves, with the corrective waves being (2) and the possible (4?). My strategy for this trade consists of two trades broken down in two parts. Trade 1 of part 1 is to short the pair till price is within my “Go Long Zone” 1st target , at that point I will reverse my short trade into a long position (trade 2 of part 2) for

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