USD/JPY: week 9 kick off
Updated
Hi Guys,
the pair paused between 112.000 and 111.640. Sentiment remains bullish. My idea is that the run will resume to climb above 112.000 to end at approx 113.000 before correcting.
If momentum is lost and price falls below current support 4, price could retrace 50% of the move 0 to 3 and make its bottom on the pink horizontal line in accordance with the rule of wave alteration (if wave 2 is shallow, then wave 4 will be a deep correction).
At the time of writing price is attacking 112.000. Let's see if the attempt to breakout fails or succeed.
Strategy: Wait & See
Thank you for your support and for sharing your ideas.
Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
the pair paused between 112.000 and 111.640. Sentiment remains bullish. My idea is that the run will resume to climb above 112.000 to end at approx 113.000 before correcting.
If momentum is lost and price falls below current support 4, price could retrace 50% of the move 0 to 3 and make its bottom on the pink horizontal line in accordance with the rule of wave alteration (if wave 2 is shallow, then wave 4 will be a deep correction).
At the time of writing price is attacking 112.000. Let's see if the attempt to breakout fails or succeed.
Strategy: Wait & See
Thank you for your support and for sharing your ideas.
Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Note
At the time of writing USD/JPY is breaking out with the 1H candlestick which will close in approx.20minutes.Trade closed: target reached
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