GBPJPY wave structure at 4H, 15M timeframe

Paun British / Yen Jepun (OANDA:GBPJPY)

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OANDA:GBPJPY Paun British / Yen Jepun

waveanalysis smc smctrading smcconcepts smcanalysis

Day is uptrend => current is correction
4H is uptrend => current is correction
15M is dowtrend
Current price is in the demand zone of the 4H, Daily time frame.
There is a high possibility that the price will increase again.
To confirm the price increase again, we wait for the price to surpass the strong swing top of the 15M time frame

Komen:

Price broke through the strong Swinghigh peak of the 15-minute time frame

Komen:

After the price broke through the strong swinghigh in the 15-minute time frame, the price continued to rise to the weak swinghigh in the 4-hour time frame.

Komen:

The price rose and broke through the weak swing high on the 4-hour timeframe and created a strong swing low.

Penafian

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