GBP/JPY **BUY, BEFORE & AFTER

August 9, 2021

2066

GBP/JPY **BUY, BEFORE & AFTER
Review of gbpchf analysis based on Price Action, Elliott and Kendall Stick

1- Price Action Analysis:
It has been in a rising price since 5/24/2021, and in this uptrend, which is in a uptrend line, it has hit this resistance line 3 times and has had a big drop each time.
The second time on 20/7/2021, he encountered this very strong resistance line.
And now it is at the price of 1.6195, at which I entered the sale.
With a stop of 1.9233, it is suitable for sale, and with a target of 1.5815, which in this signal, if 100 pips is in profit, please put the stop at the entry price.

Elliott analysis:
According to Elliott analysis, in wave b there is a stretched plate that has returned to 127% of wave a until now, and the beginning of wave c is that plate which will return at least 138% of wave b.

3- Candle stick analysis: In 1 hour, we see candles with long shadows