dojitrader
Short

Elliott Wave or Cypher Pattern Suggest Short - Which One ???

FX:EURJPY   Euro / Japanese Yen
172 0 1
Guess will have to trade them both.
EW suggests a 2nd/B wave up to the 4th wave - a common target
for a-b-c corrections, BUT, if this is a 2nd or B wave of larger degree,
THEN, EW rules allow for much larger retracement of 1 or A.
That makes stops in need of help from the candlesticks and a
c wave with a clear subdivision of 5 waves itself.
My psychology likes low risk, thus, seeking small stops
on the first short and larger stops on the second.

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