GBPJPY double zigzag pattern

10nov2015





my elliot wave count shows that the pattern for this pair gbpjpy  is in double zigzag correction.

the trend is in the bullish trend and the price are going to find its higher high.if it fail to find its higher high, the trend seems to make a reversal.

if we look at daily candlestick, the candle indicate that, the price are exhausted.the buyer get in the market and push the price up.

the c wave of second zigzag correction are targeted at the resistance area of 188.13.the are to look for entry is 186.80. the stop loss can be put at the area of 184.05.


good luck!!happy forex trading!!


disclaimer
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this forex trading idea was published for the purpose of study only. all the risk taking are at your own responsibility.
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pasifincome forex

A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.