I'd like to buy small lots on corrections close to 114.101, even if it falls to 113.588 which are first wave Fibonacci retracements.
If my count is right and we finished the corrective wave II and we just saw the the wave 1 of III then we should be gearing up for a nice bullrun on a wave 3 of III.
I'm entering small long positions and plan to take profit around 115.40, 115.734 and 11.134 which are zones of fibonacci extensions for the wave I and wave 1 of III.
May the pips be ever in your favor.
If my count is right and we finished the corrective wave II and we just saw the the wave 1 of III then we should be gearing up for a nice bullrun on a wave 3 of III.
I'm entering small long positions and plan to take profit around 115.40, 115.734 and 11.134 which are zones of fibonacci extensions for the wave I and wave 1 of III.
May the pips be ever in your favor.
Note
USDJPY is bouncing of the 0.618 retracement so it is looking good so far.Note
since it denied a simple correction structure, I believe we are up for a complex one in this case it being a zig zag. In that case I'm short till 114.110.Trade closed: target reached
We reached the initial target perfectly and this is the continuation of my idea after the correction.
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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.