GBPJPY is heading higher to complete a five-wave sequence. The is currently unfolding as a triangle in wave iv of a five-wave sequence.
According to Elliott Wave theory, a triangle usually precedes the last move of a sequence. If this count is correct, we should see another leg higher before any major bearish reversal.
What's your view on GJ? Let me know in the comment.
Thanks for reading!
According to Elliott Wave theory, a triangle usually precedes the last move of a sequence. If this count is correct, we should see another leg higher before any major bearish reversal.
What's your view on GJ? Let me know in the comment.
Thanks for reading!