GBP/JPY has finished the 5th Wave of the Elliot Wave it had been travelling so I've been suspecting a Correction Wave here and I think we are getting it in the shape of a Cup & Handle!!
-This Cup & Handle gives us a High with a steep decline rounding off and heading back up to meet the "Equal High" forming the Cup.
-My Buy Entry, the "Handle" is Fib'd and looks to be a great area for price to test the Support Zone!
-BUY-
{ SL } 180.867
{ ENTRY } 181.673 - 181.471
{ TP } 185.750
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
-This Cup & Handle gives us a High with a steep decline rounding off and heading back up to meet the "Equal High" forming the Cup.
-My Buy Entry, the "Handle" is Fib'd and looks to be a great area for price to test the Support Zone!
-BUY-
{ SL } 180.867
{ ENTRY } 181.673 - 181.471
{ TP } 185.750
*TRADING INVOLVES RISK! DO NOT TRADE WHAT YOU DO NOT UNDERSTAND OR HAVE NOT TESTED BEFORE! THIS IS NOT TRADING ADVICE. EDUCTIONAL PURPOSES ONLY!*
Trade active:
Buy Entry - 181.660
-EJ gave us a GREAT ENTRY!!