But what of the larger degree trend

As you should all know by now, we always have to look first at the larger degree trend to see how the trades “fit in”. On the 240min FOREX , I then look to the 480min, then Daily charts......

As you can see here, the Daily GBPJPY had just put in a nice Wave C low, with the low right at the typical Wave C WPT, as such the ABC low was “in the direct of” the new Daily up trend............

Thanks, Steve