GBPJPY | Wave analysis of the ticker

To take a short into the green fibos area, according to the master plan (https://t.me/eightyninewaves/2267). The forecast is coming true so far, but somehow there is no desire to trade the downward zigzags yet. We are waiting for the five-wave A and the correction to it B to try to take the entire wave C of (D) of [B].

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#89waves

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#GBPJPY TF: 4H

Everyone loves to brag about their successes, but not only everyone admits their failures. One of my biggest failures is the downward forecast for the pound/yen (https://t.me/eightyninewaves/2015). In my defense, I can only say that I warned about the extremely low statistical probability of the setup being triggered. And the fact that p/l for forex was potentially fantastic there.

But, as they say, nonetheless. As long as I keep the downward count as the main one, I do not plan to trade the pair, I will wait for the situation to be clarified.

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#89waves

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#GBPJPY TF: 1D

Not very likely from the point of view of statistics, but the profit/loss is unique. Therefore, I try to sell the pair with minimum lots with a stop around 143.8. It is possible for 142.7, but then the chances of success will be even less.

See the previous update to understand where I’m aiming at the link (look update from December, 15 in my telegram channel)

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#89waves

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#GBPJPY TF: 2H

Timeframe: 1D

So far, nothing really interesting is happening with yen pairs (look update from November, 15 in my telegram channel). Therefore, I decided to update the general picture, the daily timeframe, where we see the triangle [B] or the exit from the triangle [B] by initials (1)-(2) of [C]. Both options imply the strengthening of the yen against the pound in the foreseeable future.

Alas, but Wave Analysis does not allow building a trading plan on hour’s timeframe, so we just have to wait…

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#89waves

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Timeframe: 2H

The alleged series of initials continues to develop. Probably, this month will be marked by a serious strengthening of the yen, I plan to bet on this.

And increase the short position on the pair, respectively. Stop is at the end of (ii). As for take – next time, they are very far away if everything goes according to the plan.

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#89waves

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Timeframe: 1H

The previously predicted downtrend is developing (look update from September, 15 in my telegram channel). Which is now, most likely, in a phase of correction in the wave (ii), or it has already completed this (ii) and started the wave (iii).

Somewhere here is a great place to set a short position on the pair, look for targets in the previous updates on the link.

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#89waves

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Timeframe: 3H

Everything is strictly according to the plan updated a month and two months ago. The pair is updated here on the 15th of every month. Now, quite possibly, an initial impulse has begun to form or even has formed in the downward direction. In this regard I plan to increase the short position on the instrument on a pullback.

I hope that the pair will fall due to the strengthening of yen and not due to the devaluation of pound.

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#89waves

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Timeframe: 3H

Another victory of wave analysis, the forecast updated a month ago has been completely fulfilled (look update from July, 15 in my telegram channel). Longs were fixed, the profit was withdrawn :o) Now it has become interesting. Will the pair go down from the current values?.. This is not exactly, yet, we need confirmation in the form of a breakdown of the lower border of the red channel, where I put a sell stop on Friday.

In principle, you can try a short from the current values, but then the stop should be placed at the end of the wave (B) or slightly above the correction channel on high degrees, which is drawn at the end of [3] and (B) of [4]. See the update from April, 15 in this case.

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#89waves

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Timeframe: 2H

Some zigzags go up from 124 yen per pound. This greatly complicates the work of the analyst, but still allows you to profitably trade (look update from June, 15 in my telegram channel).

Now I’m thinking about a long with a stop at the end of the wave (c) of [x] and take in the area of the blue 79% fib. But the risk/profit ratio is small. But I will definitely take a short from the blue fib with a stop at the maximum of wave (B).

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#89waves

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Timeframe: 1H

I don’t really change my expectations for the last couple of months (look update from May, 15 in my telegram channel). I look forward to the development of the downtrend. First of all, due to the strengthening of the yen. The pound also looks strong against the dollar, but the yen… YEN IS STRONG!

In general, I continue to short. Confirming the hypothesis levels are on the graph. This is a breakdown of the potential first wave in the upstream direction and a breakdown of the channel of the correction 2 down.

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#89waves

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Timeframe: 1H

So far, everything is going in strict accordance with the plan updated a month ago. The previously predicted downtrend has begun (look update from April, 14 in my telegram channel). But it’s not just that I left 62% blue fib on the chart – this is a potential target for complicating of the wave “2” to a double zigzag. Therefore, I recommend now transferring the stop to breakeven or easy plus.

When approaching the blue fib is, I will recommend to re-enter to a short position, now I recommend that you behave here with extreme caution. You see that we are falling the leading diagonal of zigzags – this is a very rare model, especially in the initial formation.

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#89waves

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Timeframe: 1M, 1W, 1D, 1H

It goes in the right direction (look update from March, 15 in my telegram channel), but I decided to review everything and each markup from the largest available degrees anyway.

A large ending diagonal V is developing, in which the initials are forming in the framework of (C) of [5]. This all means that soon the strengthening of the yen will resume. The critical level for the hypothesis was added to the chart in orange, it can be used as a stop for shorts.

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#89waves

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Timeframe: 1D

I switched to a slightly more complicated internal structure than previously expected (look update from December, 14 in my telegram channel). Globally, expectations for the pair remained downward. Locally, I expect a significant pullback in the wave (E) of [B] and only then a decline.

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#89waves

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Timeframe: 1H

No changes from the last update (look update from January, 14 in my telegram channel), except for the nuance that a triangle has formed in the “4” wave instead of a zigzag. It’s for the best – it turned out to trade the situation with a minimum stop.

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#89waves

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Timeframe: 2H

The pair follows strictly the dotted line that was drawn earlier on days TF (look update from December, 14 in my telegram channel). The price hit the first blue (turquoise) rectangle. The wave 4 of (C) is now completed or developing. It complied with the minimum guidelines for it completion both in structure and in duration. But there are options with further continuation of the correction, the most obvious of them marked in gray.

In terms of trade, I do not recommend anything, yet. You can try longs with an eye on the wave “5”, but the stop is too far away. You can also try to trade every potential impulse up in the hope that it is [i] of 5 , but it is too nervous
#89waves

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Timeframe: 1D

I revised the daily count towards the further development of the wave [B]. The proposed pattern of movement depicted in dashed lines. I look forward to an alternate entry of prices into the zones indicated by the blue (turquoise) color.

As for trading, I recommend waiting for a minimum of entry into the first zone, from there you can already look closely at a long position with a stop at the end of the wave 1 and a target in the second zone. But personally, I plan to wait for the second zone and then take a short
#89waves

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Timeframe: 2H

I decided to change the order of updates of the DASH and pound/yen due to the fact that a powerful exit from the triangle is ripening here. It remains only to figure out which way …

The structure and objectives of the wave 2 completed and approached the local divarication. Both options shown on the chart are valid now, so you can try to trade either of them or both with a short stop and an excellent risk/profit ratio in both cases.

Personally, I would like to see 141.5+ and only then a big short, but it is quite possible that this will not happen and the pair will immediately go down. Confirmation of a large short – a breakdown of the red channel down
#89waves

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Timeframe: 4H

The wave 2 decided to become a double zigzag instead of a single. This is not scary – there was still no entry point to the position. But now it has appeared. And not one!

I’m going to take a short out of the area between 100% red fib and 62% blue fib. If the pair does not go there, but goes straight down, then I will go short for a breakdown of the red channel down with a stop over the extreme maximum.
#89waves

Timeframe: 2H

Another completed impulse 1 has formed down and now a correction 2 to it is forming now. According to the rules and guidelines, this correction has already fulfilled all its minimum targets, therefore, a sharp decrease of the pair can begin literally at any time.

I recommend to wait for the downward impulse [i] of 3 and correction to it [ii] of 3 and after that start to short the pair
#89waves

Timeframe: 1D

I sent a count for a global review. There will be many likes – I will show small degrees without a queue. In general, I look forward to a further decline in the pound against all other currencies. The yen, on the contrary, looks towards strengthening against the dollar