Using our Elliott Wave Indicator Suite for the TradingView Platform we have found a potential long 5th wave trade on the 60 minute timeframe for GBPJPY .
The recent wave 4 has pulled back into our automated probability pull back zones. In this case good support was found in the Amber zone, which represents an 80% probability that our automated 5th Wave target zone (in blue on the chart) will be hit.
Our entry long is conservative through 141.03 with the stop loss just below the wave 4 pivot around 140.38. Our automated target zone is showing a potential 142 price as the target for this forex trade.
The 5th wave of an Elliott Wave Sequence is the highest probability move and our Elliott Wave Indicator suite for TradingView is designed to find and measure those potential 5th Wave moves.