Recently GBPJPY always make an unexpected move, this is can make trader panic for a while. Whatever i believe the double bottom that we can see at timeframe 4 hour in clearly view as a good impact for bullish action in correction againts the bear trend.
my Chart above show the 2 possible movement for GBPJPY. Ive counted the wave using timeframe 1 hour. Bear divergence has occurs and the price fall down and i consider as wave a and will make another 2 wave B and C to complete wave (iv). I choose golden ratio 61.8 as a pretty magnet for price kissing the support. Another possible movement is price will through goes up for complete the wave (iii). So beware with the market. Plan your trade and trade wisely.
my trading idea.
pending order buy stop @ 207.68 / sl 206.97 / tp @ 208.39
pending order sell stop @ 206.52 / sl 207.23 / tp @ 205.67
adios :D
regards
yaqen
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