KVE
Long

USD/JPY: Long from diagonal triangle

FX:USDJPY   U.S. Dollar/Japanese Yen
383 9 15
Chart explains it all, I'm long as in the trades shown.
Comment: Note the red arrows in case we get a last wave down...

Cypher could be next:
snapshot
Comment: Possibility in case we get further down:
snapshot
Trade closed: stop reached: Damn, damn, just pips before it took off....
Good one! I'll long above the daily high.
Reply
KVE IvanLabrie
Tnx for the comment!

Still a small doubt: if my i and ii are waves 3 and 4 then we could get a fifth and last wave down to about 120.15 completing wave 5... (red arrows)
Will look better if we get above my iv...

Nice Cypher pattern could be forming after that so I might adjust my first target a tiny bit too:
snapshot
Reply
I will long above your 4th to be safe...I don't know if the wave count is correct but it makes sense to me to see a rebound in equities and USDJPY since the support has held today, when I expected a carnage in the market. (this is a very significant support level)
Reply
KVE IvanLabrie
Yep, above 4 sounds great!
+1 Reply
Man SL a few pips lower would've kept me in this nice trade... To be honest I actually put it there because R/R 2 looked better than 1. something... Lesson learned!!
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wow what a bad luck. Next time R/R 1.9 LOL Anyway nice analysis KVE!
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KVE javivi
Haha, yes 2.0 is jinxed now ;-)
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Nice Idea, I agree. Dont mind that you have been unlucky stopped out. Next Trades will come!
USDJPY - Bounce on the Trendline
Reply
KVE P_Parker
Thanks 4 sharing! Yes, already in the next one :-)!
+1 Reply