gbpjpy -0.27% has finished its bearish cycle of the "b" leg in this bigger abc pattern being held by fib circles. it is currently impulsing up for the C wave.
there can be a trade up but r/r is not ideal so lets pay attention for the bigger trade, once gbpjpy -0.27% completes this C leg it wil make another impulse down. and if price action sets us up, i will be looking to sell the dragon around my supply zone.
verticle lines are my seperation of market cylces. notice how they fall in line with my RSI cycles. after any bearish cycle, the market then does a bullish cycle and vice versa. market finished its bearish cycle, next comes a bullish one and then we want to get back in for the sell after market completes its bull cycle
there can be a trade up but r/r is not ideal so lets pay attention for the bigger trade, once gbpjpy -0.27% completes this C leg it wil make another impulse down. and if price action sets us up, i will be looking to sell the dragon around my supply zone.
verticle lines are my seperation of market cylces. notice how they fall in line with my RSI cycles. after any bearish cycle, the market then does a bullish cycle and vice versa. market finished its bearish cycle, next comes a bullish one and then we want to get back in for the sell after market completes its bull cycle
David K Giraldo
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