FX.co ★ Simplified Wave Analysis. GBP / JPY review for the week of November 15

Wave pattern graphics H 4:

On the cross-country graph, the rising wave of August 15 is nearing completion. In the structure of the larger D1 wave, this section does not go beyond the correction.

Wave pattern graphics H1:

Since October 26, the rising wave develops. It became the final model of the H4. The structure has completed the first 2 parts (AB).

Wave pattern graphics M15:

On November 13, a wave of this scale began to count. Continuation will follow after the current correctional flat.

Recommended trading strategy:

In the upcoming days, you can expect a sharp jump in price growth. Potential is limited to the nearest large-scale resistance zone. Buy with caution, possibly increasing volatility.

Resistance zones:

- 150.00 / 150.50

Support areas:

- 146.40 / 145.90

Explanations to the figures: The simplified wave analysis uses waves consisting of 3 parts (A – B – C). For the analysis, 3 main TFs are used. On each the last, incomplete wave is analyzed. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure, the dotted - the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use.