FX:EURJPY   Euro / Japanese Yen
497 12 11
Price is on the resistance of the DOWN channel after a stong and longer corrective wave since the beginning of the down trend ... we can see also a clear hidden divergence on the MACD and the RSI which gives too overbought indication , all this indications especially in the sensible zone (channel resistance) gives us a good BEARISH signal on the 4H time frame , still out the market waiting a good reversal candle is a good idea ... lets take a look at a 1h time frame and make a zoom on the corrective wave , to find the best point or moment to jump :)
this corrective wave still making HH and HL (higher highs and higher lows) inside an UP channel , but we can see easily a regular divergence on the RSI , that is good :) but what if the account of elliot waves is right ? i think divergence with the fifth elliot wave in up trend is a good signal to indicate the end of the cycle and the price will looking for acb             correction , even reverse his trend :) any way on this time frame waiting the confirmation is good idea too , bellow the bottom of the 4 wave is good signal ... don t forget , TRADING IS WAITING ,,, good luck :)))
the show will begin :)
dem0nd NizarRahalii
what is the target for this one? I'm waiting :D
Sam0101 NizarRahalii
At which price is a good time to enter? I'm still learning, lol
Sam0101 dem0nd
good job NizarRahalii
thank you for your encouragement :)
Nothing will hide from you, not even the (hidden) divergence. :-)
A nice study. At the moment my expectations for this pair are mixed. I think we may be rangebound for a while, but I haven't studied this pair deep enough to have a clear opinion.
NizarRahalii ForceFollower
lol forcelollower thank you , if you have good idea about CHFJPY you can easily understand the EURJPY movements :)
ForceFollower NizarRahalii
A good point. CHF/JPY is about to retrace 38.2% of the whole down move, I guess. Just 21 pips left. I wonder, what we'll see next...
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