GBP/JPY Ending Diagonal Pattern

Expanding Ending Diagonal (EED) Explained

What’s up traders, in today’s Short Learn we’re going to take a look at #GBP/JPY. So recently, and when analyzed correctly. The Ending Diagonal is one of the most reliable trading patterns.

GBP/JPY Expanding Ending Diagonal Pattern
$GBP/JPY: 04/01/2020 – 04/15/2020 360 min chart

This special type of pattern; Ending Diagonal or in traditional technical analysis called a Rising Wedge occurs primarily in the fifth wave position of an impulse or in the C wave position of an A-B-C correction.

With a high probability; at the least, the Ending Diagonal will revert back to the start of the pattern and often even farther depending on the wave count.

The Ending Diagonal Pattern before direction change
$GBP/JPY: 04/04/2020 – 04/23/2020 360 min chart