GBPJPY LONG
Yesterday GJ was fallen down rapidly. And finally I got support at 138.140 level which is a strong support resistance area.
As per thumb rule from E wave @# to E wave #4 the restracement should be 50% at least as it is corrective wave. Which is exactly been done on 0.5 Fib Ration, 2nd Thumb rule is that if WAVE # 3 is extended then Wave # 5 is most like be the same in length of WAVE #1.
As H4 Chart showing a nice bullish candle that means ABC correction (fom wave3 to wave4) is finished here now and the GJ will start its journy towards wave # 5 in order to Complete E5 Structure.
For me its LOOOOOOOOOOONG.
Please hit like button and follow me for latest E5 ideas and harmonic analysis.
As per thumb rule from E wave @# to E wave #4 the restracement should be 50% at least as it is corrective wave. Which is exactly been done on 0.5 Fib Ration, 2nd Thumb rule is that if WAVE # 3 is extended then Wave # 5 is most like be the same in length of WAVE #1.
As H4 Chart showing a nice bullish candle that means ABC correction (fom wave3 to wave4) is finished here now and the GJ will start its journy towards wave # 5 in order to Complete E5 Structure.
For me its LOOOOOOOOOOONG.
Please hit like button and follow me for latest E5 ideas and harmonic analysis.
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