ew-forecast

Elliott Wave Analysis: Triangle On EURJPY Points To Lower Levels

FX:EURJPY   Euro / Japanese Yen
On 4h chart of EURJPY             we have seen a strong decline below the triangle line so we assume that pattern in wave B can be finished so traders may look and expect more weakness down into wave C, especially after a re-test of that broken trendline that seems to have turned into a resistance at 114-115 area.

A Triangle is a common 5 wave pattern labeled A-B-C-D-E             that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. A Triangle is either contracting or expanding depending on whether the channel lines are converging or expanding. Triangles are overlapping five wave affairs that subdivide into 3-3-3-3-3.
FX Service and Crypto Service; Now 50% Off!
http://www.ew-forecast.com


Is it still valid?
+1 Reply
Hey Meckron. No we changed our wave count a little bit and we now see this rally up from 112.05 as start of blue sub-wave c of a triangle. Blue wave c could now find its possible reversal zone around the 116.250 area.
Reply
Meckron ew-forecast
Thanks for the answer! Yeah, I got the same idea, retrace at 116, and retrace to a new low to 110 area. What you think?
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out