USDJPY- 5th Wave started in the zone 102.70-102.75
Updated
Trading@103.55
As per earlier update- I was looking for a correction from 104.15 to 102.75- Got the Big Move Down 102.80's & Exited -Now 5th wave has already started for red counts -looking for 104.40-104.50 where red wave 5 shall achieve equality distance with red wave-1.
Black 3rd wave will get completed in the zone 104.40-104.50 where it will 461.8% of black wave-1 so there is a confluence likely that will be the target
If you missed the uptrend which was indicated in the last few updates -no issues one enter the longs once it gets retraced or going above 104 for target zone 104.40-104.50
As per earlier update- I was looking for a correction from 104.15 to 102.75- Got the Big Move Down 102.80's & Exited -Now 5th wave has already started for red counts -looking for 104.40-104.50 where red wave 5 shall achieve equality distance with red wave-1.
Black 3rd wave will get completed in the zone 104.40-104.50 where it will 461.8% of black wave-1 so there is a confluence likely that will be the target
If you missed the uptrend which was indicated in the last few updates -no issues one enter the longs once it gets retraced or going above 104 for target zone 104.40-104.50
Trade active
20:32 Hrs 10th Oct2016Trading@103.55
The rally, which started from the zone 102.70-102.75 Near by 102.81- looks impulsive, so either you wait for following zones like 103.25-103.30 or 103.05-103.10 as zones where next demand could come. Also confirm at your end before executing any trades.
Or going above 104 -we are looking for 104.40-104.50 zone as target zone mentioned above in the main update.
Trade active
19:45 Hrs 11th Oct2016Trading@103.75
UJ is turning from 103.50-103.60 base so that is a good support & likely heading for target zone 104.40-104.50 as discussed in the idea.
Trade active
21:30 Hrs 11th Oct2016Correction is still unfolding in wave -4 so I am still looking for a rally to the zone 104.40-104.50 area. This 4th wave could take shape of a-b-c out of which 102.81- recent lows was a-wave within red 4th wave -b-wave completed at 104 highs from where it started falling in c-wave.
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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.