Possible Wave 3 to follow completion of Wave 2 (ZigZag).
4 hour chart showing a 5 wave impulse being corrected by a 5,3,5 ZigZag pattern. Wave 4 of 5 in Wave C of the ZigZag is currently in progress. Price showing resistance at the 0.618 retracement level off the impulse. RSI touching/nearing oversold territory.
Initial price target set at a 1.68 multiple of the impulse wave (2:1). Entry level only once the extreme of Wave B of the ZigZag is broken.
EURJPY
Daily Chart supporting the idea of having an impulse as a Wave 3 of Wave 5.
First ever post, I don't even have a demo account so obviously don't take too much from this.
Initial price target set at a 1.68 multiple of the impulse wave (2:1). Entry level only once the extreme of Wave B of the ZigZag is broken.
EURJPY
Daily Chart supporting the idea of having an impulse as a Wave 3 of Wave 5.
First ever post, I don't even have a demo account so obviously don't take too much from this.
Order cancelled:
Possible trade was invalidated once the start of wave 1 was broken. It looks like this move down was a change in trend rather than a corrective move.