dojitrader
Long

Target Buffet . .

FX:EURJPY   Euro Fx/Japanese Yen
149 2 2
Take your pick of targets !
Laddered confluence seems to point to a buy.
Especially if it is in 3 waves. Should it morph into
an impulsive looking 5 waves of a 3rd wave -- all bets are off !!!
With that in mind I'll be looking for a candlestick signal
near the bottom of the buying range.
*Is that a Freudian Slip in the support zone spelling*
{It's beginning to look a lot like Christmas}
The longer this trades sideways - the less conviction I'll have if it ever hits
the buy target. Especially in this, the "silly season" of Christmas only days away.
It's low risk, but, it seems that if a set up does not complete with the same harmonic/symmetry
in the last leg, as in the first, the probabilities of success are greatly diminished !!!
*and it's Friday, too *
Reply
I no longer trust this set up and have canceled the trade !!!1
There seems to be a breakdown in the correlation with UsdJpy.
It has made a new high and EurJpy has not. Something else is
in the works - perhaps a swing top is in place Look for more
evidence from the market first. Cancel this trade !!!
Reply
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