The bigger picture for USDJPY has not changed but short term I'm looking for a bullish leg of lesser degree towards 108.30.
This trade set-up is relatively easy, if we see the bullish continuation I'm a buyer for a potential wave C or 3 higher. If we move lower I let it go for now.
Either way updates will follow because the real trade has yet to come in terms of the buy described in my previous post. Nevertheless I think that this consolidation has to mature first.
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Either way updates will follow because the real trade has yet to come in terms of the buy described in my previous post. Nevertheless I think that this consolidation has to mature first.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
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The day trade of yesterday did not get triggered and I'm back following the bigger picture outlook. The trade we don't want to miss (bullish) has yet to come.
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There was some misunderstanding on how to interpreted the end of a structure. The day trade set-up showed a potential reversal within the structure. However this trade didn't get triggered. I used this set-up as an example to show you how to look at trend lines. Trend lines are based on price and not the other way around. That's why textbook examples often not work. Let structure show you whether the reversal is there or not.
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Still not reversing and I favour more bearish price action for wave 5/C/Y.
