GBPJPY is channeled between upper and lower boarder lines and within this boarder we find an ABCDE correctional wave.
Price is trapped between 50fib(136.54) and 61.8fib(136.28).
Trade will be invalid if market breaks below 61.8fib (136.28), breaks out of trend/below border line.
The idea here is to buy trend continuation, when marked pushes above 50fib (136.54) north, buy the pullback on the same level, pay close attention to this level on lower timeframe.
Please see related ideas link below
Price is trapped between 50fib(136.54) and 61.8fib(136.28).
Trade will be invalid if market breaks below 61.8fib (136.28), breaks out of trend/below border line.
The idea here is to buy trend continuation, when marked pushes above 50fib (136.54) north, buy the pullback on the same level, pay close attention to this level on lower timeframe.
Please see related ideas link below
