dojitrader
Short

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

FX:EURJPY   Euro / Japanese Yen
157 views
5
157 2
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 ~~~~~~~
Planning to TP on my long position at the .382. This coincides with this week's pivot as well.
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dojitrader glennmercer
Seems to fit well and entering now 10am GMT
really lowers the risk against X
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