GBPJPY SHORT IDEA
My idea on GBPJPY.
Once the high gets taken out we will start a Wave 4 correction which could retrace to the 38.2%. Once the retracement finishes we will then see one more impulse which will give us our wave 5 and that will complete the bigger expanded flat correction on the monthly time frame.
Another scenario is that we could see the market start to drop once the high gets taken and we will see a huge downside movement. This means that the last push to the upside could be the last. I will be looking for shorts.
Good luck :D
Once the high gets taken out we will start a Wave 4 correction which could retrace to the 38.2%. Once the retracement finishes we will then see one more impulse which will give us our wave 5 and that will complete the bigger expanded flat correction on the monthly time frame.
Another scenario is that we could see the market start to drop once the high gets taken and we will see a huge downside movement. This means that the last push to the upside could be the last. I will be looking for shorts.
Good luck :D
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