GBPJPY 4 HR Elliott Wave Count
GBPJPY 4 HR Elliott Wave Count Updated 08/10/18
From the (w) wave lows of 143.215 price action has traced out an Elliott Wave ABC Zig Zag for the (x) up to the July 16, 2018 highs of 149.32.
From the (x) wave high price action should trace out another larger degree Zig Zag to complete the (y) wave of the (w) (x) (y) shown on the daily chart.
Looking at the Awesome Oscillator I believe price will see the 200% extension at 139.46. There is currently no divergence and we should see divergence between waves 3 and 5 of the larger degree 3rd wave, circle 3.
After the circle 3 is complete we should see a bounce/consolidation up toward the 38.2% fib for circle 4 that will be followed by circle 5 down.
I have two targets down for circle wave 5 that will end the a wave. The targets are the 5 vs 1 at 138.513 and the 61.8% extension of waves 1 thru 3. These target are only estimates as we need wave 3 and 4 to complete before setting more accurate targets.
Please visit the following links for the Weekly, Daily and 1 hour GBPJPY Elliott Wave Counts.
04/17/17
From the (w) wave lows of 143.215 price action has traced out an Elliott Wave ABC Zig Zag for the (x) up to the July 16, 2018 highs of 149.32.
From the (x) wave high price action should trace out another larger degree Zig Zag to complete the (y) wave of the (w) (x) (y) shown on the daily chart.
Looking at the Awesome Oscillator I believe price will see the 200% extension at 139.46. There is currently no divergence and we should see divergence between waves 3 and 5 of the larger degree 3rd wave, circle 3.
After the circle 3 is complete we should see a bounce/consolidation up toward the 38.2% fib for circle 4 that will be followed by circle 5 down.
I have two targets down for circle wave 5 that will end the a wave. The targets are the 5 vs 1 at 138.513 and the 61.8% extension of waves 1 thru 3. These target are only estimates as we need wave 3 and 4 to complete before setting more accurate targets.
Please visit the following links for the Weekly, Daily and 1 hour GBPJPY Elliott Wave Counts.
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| GBPJPY 4 HR Elliott Wave Count |
04/17/17
The GBPJPY had a nice bounce today and MAY have bottomed at 135.59. The pair is currently trading around 137.00 and we should see some resistance here. I will be watching for a 50-61.8% retrace for a possible long against 135.59. A more conservative option would be to wait for the retrace and break of the highs.
GBPJPY 4 HR Elliott Wave Chart
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| GBPJPY 4 HR Elliott Wave Chart |
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