GBPJPY - Long Signal - Elliott Wave Analysis (May 2020)

19 Mei 2020

GBPJPY completed the complex Triple Three correction within Intermediate (B) (green).
Bullish INtermediate (C) (green) should commence.

Technicals in favor:

- Bullish Divergence
- Fractal Sequence
- Descending Channel (bull-flag)
- 50% FR of Intermediate (A)(green)
- FR & FE Confluence
- Bullish Harmonics

* 61.8% of the Intraday rise should be holding.

GBPJPY - BUY Signal - Lionheart EWA

- Entry @ 130.35
- SL @ 129.00
TP @ 133.50 / 135.00 / 137.00 / 139.00 / 140.00 / 141.00

Many pips ahead!

20 Mei 2020

Catatan

Intraday Bearish Divergence will most likely push GBPJPY lower, in a wave 2 correction. Expecting a Zig-Zag correction. Levels will be updated, but 131.35 should be watched.

22 Mei 2020

Trade aktif

GBPJPY is at the 61.8% FR of the impulsive swing.

Trading is now active from 130.65 , with SL @ 129.00

* Important Notes:
- Anything lower than 128.150 would invalidate the wave 2 scenario. This would delay the bullish swing, in which case 128.25 would be the next entry level.

Many pips ahead!

27 Mei 2020

Catatan

Strong resistance coming up.
Maintenance such as SL at BE would be a good idea.


If GBPJPY breaks out, then Intermediate (C)(green) is in play.
If the upper trend-line acts as resistance, then the structure could become a bit more complicated, leaving the lower entries as the next interpretation.

4 Jun 2020

Catatan

GBPJPY delivered 650 pips in favor of the bullish expectations.
Targets 1-2-3 reached!



Now, let's update a bit:
The bullish sequence in Intermediate (C) (green) does not look impulsive, due to the potential Running Contracting Triangle in Minor B (blue).
It is a Motive structure, but it could be a Diagonal.

The current corrective structure needs to be watched, because a breach of the Wave 4 Fibs would pave the way for a larger degree structure.

Congrats to those who followed!