UnknownUnicorn3382580

What do you see on the chart?

Singkat
FX:GBPJPY   Paun British / Yen Jepun
While a lot of traders are longing cable, I have certain doubts and earlier posts were consistent with the view today.
I see a clear flat structure, having 3 -3 waves in A and B, and the current impulsive move up is consistent with this assumption.
An ending diagonal may be already in place, but, I guess, it will take more time to complete it.
Wave C travelled almost 162% of the distance based on the length of wave A. On of the key levels typical for these corrective patterns is met.

If price makes an impulse down, followed by a three wave pullback - typically - a flat structure, then I will definitely short it.

Good luck!
Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.