GBPJPY Analysis
It seems wave 3 is in progress on the minor period?
I have set up a Short Stop breakout trade.
The trade will be active on breakout of structure to trade the remainder of what seems to be a wave 3 and wave 5.
Most likely I shall add another position if a wave 4 structure appears, to trade a second position on wave 5.
Note: MACD has NOT confirmed a wave 3 and 5, but has the previous Impulse and Correction.
3SMA shows its a high probability to break out of the channel, together with Stochastic RSI and RSI indication.
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NB: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
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I have set up a Short Stop breakout trade.
The trade will be active on breakout of structure to trade the remainder of what seems to be a wave 3 and wave 5.
Most likely I shall add another position if a wave 4 structure appears, to trade a second position on wave 5.
Note: MACD has NOT confirmed a wave 3 and 5, but has the previous Impulse and Correction.
3SMA shows its a high probability to break out of the channel, together with Stochastic RSI and RSI indication.
------------------------------------------------------------------------------------------------------------------------
NB: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
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