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Short

Elliot Wave Forming, 5th leg to come?

FX:NZDJPY   New Zealand Dollar/Japanese Yen
10 months ago
What appear to be the 4th leg of an elliot wave is forming and might bounce off the resistance established 4 times since start of March, I'm setting a sell stop just above the last reversal and my stop loss between the last reversal and where I expect the 4th leg to bounce.

Edit : Plus the Resistance level is the same as level 0.382 of the Fibonacci retracement of leg 4

PS : Sorry if this idea isn't perfect that's the first I publish
10 months ago
Trade closed: stop reached: Well, that didn't go quite as planned, in a matter of an hour my sell stop and my stop loss have been both triggered, I waited for the market to test the resistance level at 74.997 to see if my idea was still holding and it didn't.

Now I'm sad :(
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