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HayatoDragonFX

GBPJPY, 4hr tf, sell the end of wave-iv

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Paun British / Yen Jepun (FX:GBPJPY)  
HayatoDragonFX  
FX:GBPJPY   Paun British / Yen Jepun
Support and Resistance Neo Wave Supply and Demand GBPJPY gbpjpyshort gbpjpyanalysis gbpjpysell priceactiontrading priceaction elliottwaveprojection elliottwaveforecasts
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supportandresistance neowave supplyanddemand gbpjpy gbpjpyshort gbpjpyanalysis gbpjpysell priceactiontrading priceaction elliottwaveprojection elliottwaveforecasts
Trade ideas for GBPJPY by Hardi

Price right now on horizontal resistance level. There is also EMA-50 on this resistance level so we could say this is an area of confluence.

Yesterday we see an aggresive meltdown on GBPJPY, which i assume as the wave-iii.

Right now, I am assuming we're at wave-iv because it is retracing the recent meltdown. We will use wave-i as our protective stop loss based on Elliot Wave Theory

Sell GBPJPY 153.70
Stop loss 154.20
Take profit 150.70 (6R)

Use only 1-2% risk
Good luck
Penafian

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