HamzaLeith
Long

USDJPY Long term forecast

FX:USDJPY   U.S. Dollar / Japanese Yen
Idea is based on Elliot wave theory. Stochastic indicator is used for wave count confirmation. Fibonacci extensions are used for future price projections. Nothing really tradable for me here risk/reward wise. I will be wanting to trade the latest impulse upwards as soon as I spot it.
Hello Sir....what is that box theory called in the above price chart
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HamzaLeith amoldeokar75
Funny guy....
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amoldeokar75 HamzaLeith
Nothing like funny dear. I am asking u is it fractal geometry?
+1 Reply
HamzaLeith amoldeokar75
If it is like that then my apologies. Its a way of charting the waves based on Elliot wave theory. I use this approach because it makes it easier to choose the limits for the fib extensions and retracements.
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amoldeokar75 HamzaLeith
I too use the wave patterns but i havnt used the fractals in wave patterns?
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HamzaLeith amoldeokar75
Waves are fractals. The whole market price action can be broken down into fractals. That is why Fibonacci ratio's and Elliott waves have proven to be so powerful in trading. Mass psychology is what drives the markets and somehow it abides the law's of nature with regarding to flowing systems (price fluctuations included)
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