USDJPY PROBABLY IN ENDING DIAGONAL WAVE C of WAVE 2 OR B
Updated
Most Probably USDJPY is about to finish an ending diagonal wave c of a wave 2 or B of a higher degree and will soon enter a bullish Wave C or 3 (Declining volume supports ending diagonal structure and will give confidence once price breaks above with a high volume daily close)
We will take long positions once the price breaks above the ending diagonal trend line with higher volume, Stop loss will be placed on the last swing low once trade is entered
Targets for wave C or 3 are fibs 1.0 , 1.27 and 1.61
💡 Volume is the key factor at breakout above
Let see how this plays, Good Luck !
Disclaimer: This is for informational purpose only, anyone taking trades using this idea will be liable of their own loss
We will take long positions once the price breaks above the ending diagonal trend line with higher volume, Stop loss will be placed on the last swing low once trade is entered
Targets for wave C or 3 are fibs 1.0 , 1.27 and 1.61
💡 Volume is the key factor at breakout above
Let see how this plays, Good Luck !
Disclaimer: This is for informational purpose only, anyone taking trades using this idea will be liable of their own loss
Trade active
Sorry that i wasn't able to post this trade timely, we have entered position at bottom of ending diagonal keeping stop loss below 105.90will enter more trades at correction
Note
Added an alteration to the wave structure where the market might extend the correction wave B or 2 however upward trade is still active but we will redo the target once price breaks above the diagonal trendline
Note
upward impulse wave count currentlyNote
Wave 4 correction for yellow impulse waveNote
Yellow impulse wave invalidated, however main trade is still active, stop loss below 105.90Note
soon reaching upper trend lineNote
market moved as predicted, however the break is not that convincing when we look at the volume, we have closed half are positions and will close all if the market doesn't bounce back from the upper white triangle trend line as the market need to retrace back to support and bounce upwardstop loss is below the upper triangle trend line
Note
Disclaimer
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