USDJPY SELL (CONTINUATION)
Updated
Following the Elliott Wave Theory, the third wave seems to have completed. Wave 2 was a sharp (zig zag) correction, anticipating wave four to be sideways (flat) correction. Wave 3 looks to have extended, traveling ~315 pips, wave 1 traveled ~181 pips. This is why I anticipate wave 5 to travel about the same length as wave 1.
Really just watching this pair before I enter on a sell. I believe the news of the coronavirus initiated the initial sell.
Really just watching this pair before I enter on a sell. I believe the news of the coronavirus initiated the initial sell.
Trade active
Took partial profit at 106.98 for ~100 pips. Will close out all at 106.28.Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.