usdjpy wave analysis
Updated
wave 4 is abc
c is (1)(2)(3)(4)(5)
looks like wave (3) is formed and wave (4) is forming
wave (3) is 61.8% of wave (1)
there is still a chance wave 4 to be a triangle, which is almost formed.
but it also might be a flat
if it is a triangle it might be a minor correction inside extended wave (3)
anyway I expect al least one more big move down, which should show us a divergence on D1 chart.
keep an eye on it!
c is (1)(2)(3)(4)(5)
looks like wave (3) is formed and wave (4) is forming
wave (3) is 61.8% of wave (1)
there is still a chance wave 4 to be a triangle, which is almost formed.
but it also might be a flat
if it is a triangle it might be a minor correction inside extended wave (3)
anyway I expect al least one more big move down, which should show us a divergence on D1 chart.
keep an eye on it!
Note
final down move is possible until price does not exceed wave (3) starting point.close view.
personaly I'm in buy now. (I covered some longs a few minutes ago)
Note
I've closed the rest of longs.sell setup: a pointed trendline breakout should confirm down move. but 1st a new top should occur.
Note
price came close to confirm sell setup- sell setup became invalid with my previous wave count for wave (2) position, but I saw analysts, who mark wave (2) in this way. so break beyond 112.21 invalidates sell setup by new wave count.
recent down moves in uj looks pretty sharp.
it might be new impulses or just wave a and c, inside correction pattern.
who knows...
entire recent bull market looks like a new impulse. it tell us that any move down is just a correction.
let's see.
Trade active
price broke trendlineif u are not in sell, wait for flag to sell it.
Note
as alternative:price might completed abc correction (c= 61.8% of a)
Note
personaly I took a long order with sl 111.02 (15 pips in risk)Note
bearish flag?
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