On the 4h chart of GBPJPY we are looking at a triangle correction pattern taking place, that is located in black wave 4 with still two more waves to go, waves d and e for the full completion of the pattern. That said intraday structure suggest that price could be now trading in blue wave d-circled, after recently completing blue wave c around the 139 area.
As we know a triangle correction is a continuation pattern that can after its completion point to lower levels, as in this case.
As we know a triangle correction is a continuation pattern that can after its completion point to lower levels, as in this case.
Test Drive Our Services
👉 wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉 wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO