GBPJPY fails to take off after the tail of wave 5.
Having completed a 5-wave trend, and the corresponding correction in the form of a triangle, the pair failed to continue into a new trend (wave 1).
The triangle was formed nicely with subwaves a-e; but from subwave e, the price did not fire off.
Instead it has continued into sort of a small rectangle.
From the wave counts, there is no way except up!
No comments:
Post a Comment