GBPJPY Short Trade Setup

Hello Traders

The last top can be the end of the weekly running flat or the 3rd wave. Namely, it will either make a correction for one last up impulse or drop directly. My main forecast is 4th wave but I don't want to miss the down impulse if it falls. Regardless of the next wave, what we have at the end should be the reversal impulse and a correction should be in the making now. That's why I placed a pending order under the last bottom but because of wide SL, I calculate the lot size for 2% risk. If it drops directly, I'll move SL over the correction to make my risk 1%. If it makes a bigger correction, I'll try to sell after the correction and I'll remove my entry order.

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Trade with care.
Bulent