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UPDATE #3: USDJPY: A WAVE 3? MAYBE NOW!. 180+ PIPS POSSIBLE

FX:USDJPY   U.S. Dollar/Japanese Yen
At the risk of sounding like the boy who cried "WOLF!" too many times, I have re-adjusted my current wave count and now it seems a "wave 3" has just started. It is the nature of the market that it is unpredictable and we can only take our best guess at what is actually happening. This is why counting waves is an art. Not a science. Wave counting is dependent upon the eye of the beholder. And must always be re-assessed over and over with every new significant price action. Otherwise, you risk missing out on great trade opportunities or worse yet...getting in on bad ones.

So what I'm doing here is alerting to the POSSIBILITY that a "wave 3" has started....just not the "BIG ONE" that I have been waiting for. This is a "small one" relatively speaking but with a chance to yield 180+ pips if taken now. The risk:reward is good as the S/L is pretty close. That would be the point to which my wave count would again be rendered incorrect.

Take my recommendation as you see fit. Again, it's just what I'm seeing and what I'm doing.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all comments are welcome.
ChatchaiVong
2 years ago
ok, thank so much , now i open order
1. Eu == buy 0.05
2. GU == buy 0.05
3. UJ == sell 0.05
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EverythingForex PRO ChatchaiVong
2 years ago
Those orders make sense because of correlation. But please I hope you don't just follow my trades. Use your own analysis and follow your trading plan. I do hope it helps you to make pips but most of all, I hope you will learn from my charts on how to trade on your own. That is my purpose. Not to provide a "signal service". Thanks for following me though!
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ChatchaiVong
2 years ago
ok, thank so much...
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zevik.lei
2 years ago
very good , as always, thx.
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EverythingForex PRO zevik.lei
2 years ago
Your welcome, Hope it helps!
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StacoM
2 years ago
Thank you a lot my friend, your work is admirable.
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EverythingForex PRO StacoM
2 years ago
Your welcome!
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donaldsaw
2 years ago
I see what you mean now. Essentially this is a flat (3-3-5) corrective and we are in wave C with subwave 3 in motion. Correct me if I'm wrong here.
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EverythingForex PRO donaldsaw
2 years ago
Yep. You got it! And looks to me it's heading in the right direction....
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donaldsaw
2 years ago
Amazing! On a side note, it's nice to bounce ideas with someone else who uses Elliot Wave Theory.
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