It looks USDJPY is completing a small C and a big B waves of 2 different corrections at the same time.
Looking at weekly and daily charts, it seems we are in the way to make a big 3 wave (possibly 5) correction for the impulse down (blue arrow), correction which includes Trump's impulse up (Red line) also has a 3 wave correction (possibly 5) which shown in light blue ABC.
My idea is we are going to complete the C wave of the small correction (Blue) and in the meantime the B wave of the big correction (Red) soon.
Get ready to catch the C wave of the big correction ;)
I will update this post for possible entry point.
Looking at weekly and daily charts, it seems we are in the way to make a big 3 wave (possibly 5) correction for the impulse down (blue arrow), correction which includes Trump's impulse up (Red line) also has a 3 wave correction (possibly 5) which shown in light blue ABC.
My idea is we are going to complete the C wave of the small correction (Blue) and in the meantime the B wave of the big correction (Red) soon.
Get ready to catch the C wave of the big correction ;)
I will update this post for possible entry point.
Trade active
Buy after the break out, or buy now with very tight SL
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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.