USDJPY D1 Why Rising Wedge didn't work ?
Hello traders in this analysis I'm trying to say you why the great rising wedge in USDJPY D1 didn't work ! although it had a great MACD and RSI Divergence !
I really don't use Neo wave method in my Elliot analysis ( or better to say Wave analysis ) but here I can see a Running Limited Contracted Triangle that it use in Neo wave method so it is really not Rising Wedge that maybe in Classic we consider it as a Terminal triangle wave 5 . So I know maybe it is complex to explain but it is the only reason that I could find about this fielded and poor Rising Wedge !and also I expect an uptrend until the determined targets in chart !
And also it is the first analysis that I use Neowave method ! Good Luck
I really don't use Neo wave method in my Elliot analysis ( or better to say Wave analysis ) but here I can see a Running Limited Contracted Triangle that it use in Neo wave method so it is really not Rising Wedge that maybe in Classic we consider it as a Terminal triangle wave 5 . So I know maybe it is complex to explain but it is the only reason that I could find about this fielded and poor Rising Wedge !and also I expect an uptrend until the determined targets in chart !
And also it is the first analysis that I use Neowave method ! Good Luck
Trade closed: target reached
