dojitrader

Looking for a Zig Zag or a Triangle Short ???

Short
FX:EURJPY   Euro / Japanese Yen
162 views
5
The guidelines of alternation in Elliott Wave would be indicating
the 4th wave probabilities are a zig zag or a triangle when the
2nd wave was a flat like the classic flat in this wave 2.
If I'm nuts, the risk is well defined as a wave 4 cannot enter the
price area of wave 1 = Low Risk with Big Potential.
.382 fib might be the area for the candlesticks to trigger an entry short.
Comment: Looks like something else is afoot already.
Maybe an extended 5th wave or possibly an
expanded flat. The basic count is still valid and
this may actually make the pattern a better trade
as it will lower the entry @ .382 fib closer to the
4th wave of lessor degree.
An answer awaits price action ~~~~~~~

Comments

Planning to TP on my long position at the .382. This coincides with this week's pivot as well.
Reply
dojitrader glennmercer
Seems to fit well and entering now 10am GMT
really lowers the risk against X
Reply
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