GBPJPY, 4 Hour
Within the GBPJPY 4 hour chart I am spotting the potential development of a basic Elliott Wave 5 wave sequence. See (1), (3) and the possible (5?) impulse waves, with the corrective waves being (2) and the possible (4?).
My strategy for this trade consists of two trades broken down in two parts. Trade 1 of part 1 is to short the pair till price is within my “Go Long Zone” 1st target , at that point I will reverse my short trade into a long position (trade 2 of part 2) for a 2nd target within the “Target Zone “ as indicated in the above chart.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
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