Euro/Yen Bullish Triangle Correction
After the bullish 5 wave pattern,
it looks a little bit like a
corrective triangle pattern
has begun to form.
D Wave.
With the completion of
a double top pattern
at the 136 zone,
the D wave of
the triangle pattern
will have met its
61.8% Fib Level requirement
along the triangle trendline.
E Wave
The location of the projected
61.8% retracement from the
D Wave endpoint seems logical
because that is where price
can be expected to run out of
momentum
Only time will tell
it looks a little bit like a
corrective triangle pattern
has begun to form.
D Wave.
With the completion of
a double top pattern
at the 136 zone,
the D wave of
the triangle pattern
will have met its
61.8% Fib Level requirement
along the triangle trendline.
E Wave
The location of the projected
61.8% retracement from the
D Wave endpoint seems logical
because that is where price
can be expected to run out of
momentum
Only time will tell
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