Jump to content

British Pound/Japanese Yen(GBPJPY) 4 Hour Chart Elliott Wave Technical Analysis 22 November 23

Recommended Posts

GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 22 November 23

British Pound/Japanese Yen(GBPJPY) 4 Hour Chart

GBPJPY Elliott Wave Technical Analysis

Function:  Trend

Mode: impulsive

Structure:  blue wave 5 of black wave 5

Position: Black wave 5

Direction Next Higher Degrees: blue wave 5 of 5(started)

Details: blue wave 4 of 5 looking completed at  184.461, now blue wave 5 of 5 is in play .  Wave Cancel invalid level: 183.942

The "GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated November 22, 2023, provides a comprehensive analysis of the British Pound/Japanese Yen (GBPJPY) currency pair using the Elliott Wave theory. This analysis is tailored for a 4-hour chart, offering insights into potential price movements over a shorter time frame.

The designated "Function" is identified as "Trend," suggesting that the analysis is focused on identifying and riding the current trend in the market. The market is presently in an "Impulsive" mode, indicating a strong directional bias in the price movements.

The specific "Structure" being analyzed is denoted as "Blue wave 5 of black wave 5." This implies a detailed examination of a specific sub-wave within the broader Elliott Wave sequence, focusing on the fifth wave within the larger fifth wave.

The "Position" is clarified as "Black wave 5," suggesting that the analysis is centered around the fifth wave of the broader Elliott Wave structure, providing insights into the potential completion of the current cycle.

Concerning the "Direction; Next Higher Degrees," the analysis points to "Blue wave 5 of 5 (started)." This suggests an expectation of upward movement at a higher degree within the broader Elliott Wave structure, indicating a continuation of the ongoing bullish phase.

In terms of "Details," the report notes that "blue wave 4 of 5 looking completed at 184.461, now blue wave 5 of 5 is in play." This implies a focus on the completion of the corrective wave (blue wave 4) and the initiation of the next impulsive wave (blue wave 5). The "Wave Cancel invalid level" is set at 183.942, providing traders with a crucial reference point. A breach of this level could challenge the current wave count, prompting traders to reassess their analysis and trading strategies.

In summary, the GBPJPY Elliott Wave Analysis on the 4-hour chart indicates an impulsive bullish movement within a larger Elliott Wave structure. The analysis emphasizes the completion of a corrective phase and the initiation of the next impulsive wave, providing traders with valuable insights for decision-making.

Technical Analyst : Malik Awais





Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • With the CryptoSpace evolving everydayy, a plethora of ways also trump up for users to earn and have fun alongside. Some of these events are my favourites. I have participated in a couple of them and the potential to earn therefrom is immense.  Just recently, I came across an event on Bitget for its users to earn passively as well as an opportunity to spin the wheel to win an all expense tour to Santorini island. The criteria for participating in this is relatively simple, you just need to make a net deposit of over 100 USDT and maintain the amount for a day. Depositing greater sums like $500 USDT, 1000 USDT and 1 BTC can further your chances of winning. The more tasks completed, the more spins a participant may have. The event is exclusively restricted to users from the; United Kingdom, Canada, Australia/DACH, French, Italian, Netherlands, Sweden and Poland region. The total prize pool is $50,000 based on FCFS serve basis. This sounds too good to look away from.
    • Still the silence is deafening in here. When will this happen?  it have moved most my Trading Capital to another broker who does support Trading veiw Does the deal with Tastytrade have something to do with this lack of progress?  
    • Well to me I feel that the  crypto market values transparency and reliable services. And Bitget has embraced this approach, attracting a large following,gaining up to 1.4million twitter followers,. Recent data shows significant growth in trading volume, solidifying its position in the market.  The exchanges  focus on user protection and satisfaction has fostered a loyal community. As the platform continues to evolve, its value may continue to grow. What are your thoughts on the importance of value in crypto, and what do you see as Bitget's future potential?
  • Create New...