USDJPY - Long, Sell, Moon
A few techs here
1 - Elliot Wave - Wave 5 and A, B are now complete. We're moving to wave C
2 - Trendline - Market made a new High low on the 4H chart
3 - 123 strategy - Typically, when you aim to take profit from the breakout at 2 through to 3, it should be equivalent to the same distance recorded between 1-2. Notice that I have highlighted 1-2 and 2-3 are almost identical in distance. Which indicates we have completed step 3 [at wave 5] Now we reverse upwards
4 - Support and Resistance - Market failed to go below support 105.28 again.
Good luck.
1 - Elliot Wave - Wave 5 and A, B are now complete. We're moving to wave C
2 - Trendline - Market made a new High low on the 4H chart
3 - 123 strategy - Typically, when you aim to take profit from the breakout at 2 through to 3, it should be equivalent to the same distance recorded between 1-2. Notice that I have highlighted 1-2 and 2-3 are almost identical in distance. Which indicates we have completed step 3 [at wave 5] Now we reverse upwards
4 - Support and Resistance - Market failed to go below support 105.28 again.
Good luck.
Note
Forgot to include the 123 distance on the chart I posted. goTrade closed manually
impending FOMC volatility led to the closing of all my [USD] trades for the day
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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.