EUR/JPY LONG - A-B-C correction could be complete
Dear traders,
I will be throwing in a little long position with an initial target of 121.28. I have reason to believe that the A-B-C correction is complete (we have reached the 61.8% Retracement of the previous impulse 1-2-3-4-5 wave) and a new 1-2-3-4-5 cycle is about to start.
My stop loss is placed just below the latest low - if it goes lower than the correction is not complete just yet and we have to wait for the C wave to form.
Good luck!
I will be throwing in a little long position with an initial target of 121.28. I have reason to believe that the A-B-C correction is complete (we have reached the 61.8% Retracement of the previous impulse 1-2-3-4-5 wave) and a new 1-2-3-4-5 cycle is about to start.
My stop loss is placed just below the latest low - if it goes lower than the correction is not complete just yet and we have to wait for the C wave to form.
Good luck!