glennmercer
Short

USDJPY Short: Wave 5 Break + Retest (Elliott Wave TCT)

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY             has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the . 618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above wave 4 terminus and target at the 1=5 level. This setup yields a R/R of over 5.

Bearish Confluence:
  • Trendline break and retest
  • Pivot resistance
  • 200EMA Resistance
  • 200SMA Resistance
  • Possible wave (i) of 5 completion
  • Significant .618 fib level at entry
Trade active
Comment: Moving along nicely. Updated wave count:
snapshot
Comment: Wave-C-of-(iv) complete:
snapshot
thank u! yesterday i selled at 118.14,and 80 pipes came up this morning,but then the price jumped up sharply,i don‘t know what to do untill read your ideas. wonderful!
+1 Reply
Thank you, I'm glad you found it helpful
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out