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    BRAND MARKET ANALYSIS AND NEWS GBPJPY, Rising 5 Wave Sequence? Market News

    GBPJPY, 4 Hour

    Within the GBPJPY 4 hour chart I am spotting the potential development of a basic Elliott Wave 5 wave sequence.  See (1), (3) and the possible (5?) impulse waves, with the corrective waves being (2) and the possible (4?).

    My strategy for this trade consists of two trades broken down in two parts. Trade 1 of part 1 is to short the pair till price is within my “Go Long Zone” (see above chart) 1st target , at that point I will reverse my short trade into a long position (trade 2 of part 2) for a 2nd target within the “Target Zone “ as indicated in the above chart.

    Jan 29 GBPJPY SRL

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    John Knobel 

    Senior Currency Strategist

    HotForex

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