GBPJPY H4
Trade Plan 29 May 2022
Description
Price appears to have developed 3 waves ABC, with a potential of 3-waves ABC to follow.
Currently price appears to develop a Triangle pattern, which legs ABCD appears to have completed, and price is likely to develop leg E targeting 158.200 - 158.500 zone.
If price develops E-leg of a triangle at projected zone, Then, bullish trade for Wave C is likely to occur targeting 167ish area.
Trade Plan 29 May 2022
Description
Price appears to have developed 3 waves ABC, with a potential of 3-waves ABC to follow.
Currently price appears to develop a Triangle pattern, which legs ABCD appears to have completed, and price is likely to develop leg E targeting 158.200 - 158.500 zone.
If price develops E-leg of a triangle at projected zone, Then, bullish trade for Wave C is likely to occur targeting 167ish area.
Trade closed: target reached:
Although the market didn't give a discount price, our entries on market orders were lucrative as all profit targets were hit!
JPY is weak, looking for BOJ decision...if no inflation capping, then JPY weakness shall continue.
JPY is weak, looking for BOJ decision...if no inflation capping, then JPY weakness shall continue.