GBPJPY - Simple ABC's = 2800 Pips

7 thg 6, 2016

Looking at the overall higher time frame trend we're going down, and within that channel we're about half way down in the current drop. A basic AB-CD projection after consolidation of a possible triangle or flag could give us another 2800 pips movement like we saw in the recent bearish fall.

Don't enter hastily as you may end up waiting for weeks (literally) stuck in consolidation. Not many have the emotional capacity to hold onto anything like that for that long.