USDJPY ready for proper (but small) correction? UJ retrace paths
Some thoughts on possible UJ correction in the form of an ABC.
This is NOT a trade I am looking for, especially before NFP.
Just a post to see how it plays out, and how NFP effects the movement.
Background:
I started this UJ journey after noticing a ''MegaPhone'' or ''Expanding Triangle'' pattern, and thought volatility was coming
Once it broke out of the patter above, I plotted this possible path upwards
As that was playing out, I was adding longs on dips, looking for next targets. Such as with this plan:
Overall, I am still BULL, but hoping for a good correction to get more bulls on board
Which brings us to the current plan, which is looking for an ABC correction (down) to take us to the wave 4 (on the way up) vicinity
This is NOT a trade I am looking for, especially before NFP.
Just a post to see how it plays out, and how NFP effects the movement.
Background:
I started this UJ journey after noticing a ''MegaPhone'' or ''Expanding Triangle'' pattern, and thought volatility was coming
Once it broke out of the patter above, I plotted this possible path upwards
As that was playing out, I was adding longs on dips, looking for next targets. Such as with this plan:
Overall, I am still BULL, but hoping for a good correction to get more bulls on board
Which brings us to the current plan, which is looking for an ABC correction (down) to take us to the wave 4 (on the way up) vicinity
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Paused at the first support, but then below through it.
Pierced second support and bounced.