USDJPY Continuation Long
Stop Loss: 109.90
1st Target: 111.60
From what I have labeled. Wave A tends to equal C. If C is shorter than A, expect a strong move in the opposite direction. However, the X label countered the move downward and broke above the end of wave C. I found hidden divergence relating to wave 2 of A and larger trend X wave on the 1 hour time frame, indicating continuation. I consider the direction long until price breaks below the 0-B channel.
1st Target: 111.60
From what I have labeled. Wave A tends to equal C. If C is shorter than A, expect a strong move in the opposite direction. However, the X label countered the move downward and broke above the end of wave C. I found hidden divergence relating to wave 2 of A and larger trend X wave on the 1 hour time frame, indicating continuation. I consider the direction long until price breaks below the 0-B channel.
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