Looking at 3 possible scenarios and entries for USDJPY.
1. Correction wave exhaustion (white) short play at near top of assymetrical channel (yellow dotted line).
2. if correct on 1, than will reverse for long (Pink) at bottom of assymetrical triangle (yellow dotted line) for long play to break out of bullish pattern or,
3. assymetrical triangle breakout at top for completion of 5 wave move than wait for correction retest to the triangle and go long..
1. Correction wave exhaustion (white) short play at near top of assymetrical channel (yellow dotted line).
2. if correct on 1, than will reverse for long (Pink) at bottom of assymetrical triangle (yellow dotted line) for long play to break out of bullish pattern or,
3. assymetrical triangle breakout at top for completion of 5 wave move than wait for correction retest to the triangle and go long..
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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.