USDJPY PROBABLY IN ENDING DIAGONAL WAVE C of WAVE 2 OR B

Most Probably USDJPY is about to finish an ending diagonal wave c of a wave 2 or B of a higher degree and will soon enter a bullish Wave C or 3 (Declining volume supports ending diagonal structure and will give confidence once price breaks above with a high volume daily close)

We will take long positions once the price breaks above the ending diagonal trend line with higher volume, Stop loss will be placed on the last swing low once trade is entered
Targets for wave C or 3 are fibs 1.0 , 1.27 and 1.61

💡 Volume is the key factor at breakout above

Let see how this plays, Good Luck !

Disclaimer: This is for informational purpose only, anyone taking trades using this idea will be liable of their own loss

Giao dịch đang hoạt động:

Sorry that i wasn't able to post this trade timely, we have entered position at bottom of ending diagonal keeping stop loss below 105.90
will enter more trades at correction

Bình luận:

Added an alteration to the wave structure where the market might extend the correction wave B or 2
however upward trade is still active but we will redo the target once price breaks above the diagonal trendline

Bình luận:

upward impulse wave count currently

Bình luận:

Wave 4 correction for yellow impulse wave

Bình luận:

Yellow impulse wave invalidated, however main trade is still active, stop loss below 105.90

Bình luận:

soon reaching upper trend line

Bình luận:

market moved as predicted, however the break is not that convincing when we look at the volume, we have closed half are positions and will close all if the market doesn't bounce back from the upper white triangle trend line as the market need to retrace back to support and bounce upward
stop loss is below the upper triangle trend line

Bình luận: