EURJPY - We have a HUGE AB=CD Pattern. A perfect ABCD Pattern is normally 61.8% and BC projection is 161.8%. And this one is exactly these fibs %. PLUSS!!! We have a Huge bollinger Bands overbought level on daily and weekly timeframe! - Trade with care!
I see there is another potential up coming move to 132 based on my analysis.
jolicoeur342
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@sanmed02, Good luck with that buddy !! But personnally with that HUGE ABCD pattern, I will already be short! Cuz even bollinger on MONTHLY timeframe (the SMA50) got hit at 130.750.. so i'm not expecting any higher move.
sanmed02
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@jolicoeur342, may be for a short term we will have some correction agree, but don't expect to have that big one.
Good luck mate !
jolicoeur342
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@sanmed02, You should expect a 500 pips short before any upper movement
sanmed02
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@jolicoeur342, Not after reaching the 132. I believe. Anyway I'm waiting untill the market gives me the entry.