7pasos

When breaks initial channel usually exceeds ending channel

FX:EURJPY   Euro Fx/Japanese Yen
606 8 3
Yesterday I saw a lot of analysis predicting a huge decline in the EURJPY             , I dont think so. If you observe the last impulsive movement, have some peculiarities. The 3rd is extended, and I understand why when the 5 exceeded a bit the 1 to 1 proportion with the 1st wave people get excited to anounce the end of the wave, but i think that there are more guides that could lead to the contrary opinion. For example, usually when the channel formed with the 1 to 3 ends and projected from the 2nd wave end gets break, indicates that the channel formed from 2 to 4 and proyected from 3 will be exceeded.
There are other ratios for wave 5 vs wave 1, for example 1.618 and 2, that seems more apropiate given the actual price positon in relation with the 2-4 channel.
...BOJ meeting on a Friday.
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Thats right !
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Good analysis, I completely agree.
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7pasos PRO trendingview
Thanks
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60,4% positive analysis trading. Very good work!!!
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7pasos PRO darkrabbit
Thanks for taking the time!
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