GBP/JPY Market direction
Hello Traders.
Back on June 8 i predicted GBP/JPY downtrend was coming and now 2 of my 3 profit target have been hit and market is still bearish so i expect my 3 rd profit target will be hit as well.
What i can see on this 30 min Chart, since market started bearish back in June 5th it's a double corrective pattern combination labeled WXY where W is the first corrective pattern (Zig-Zag) separated by an X and Y the second corrective pattern (Expanded flat) Expanded flat wave B a little bit longer than wave A and wave C end further than the beginning of wave A. Wave C is subdivided in 5 waves. My target for our last waves are 133.000 and 132.000 (see Fib levels on Chart)
Thanks and please share your comments
Back on June 8 i predicted GBP/JPY downtrend was coming and now 2 of my 3 profit target have been hit and market is still bearish so i expect my 3 rd profit target will be hit as well.
What i can see on this 30 min Chart, since market started bearish back in June 5th it's a double corrective pattern combination labeled WXY where W is the first corrective pattern (Zig-Zag) separated by an X and Y the second corrective pattern (Expanded flat) Expanded flat wave B a little bit longer than wave A and wave C end further than the beginning of wave A. Wave C is subdivided in 5 waves. My target for our last waves are 133.000 and 132.000 (see Fib levels on Chart)
Thanks and please share your comments
Trade geschlossen: Ziel wurde erreicht:
start looking for buying opportunities now
Trade ist aktiv:
Bearish head and shoulder pattern formed . Expect downtrend to continue