FX:USDJPY   U.S. Dollar / Japanese Yen
97 6 1
I found this huge AB=CD pattern....

It looks interesting.

But could take some time to develop...

I also look for AB=CD patterns BUT be careful! They aren't very reliable on their own but should only be used as additional confirmation in addition to structure levels and harmonic patterns. In this instance, my own thinking is that this AB=CD pattern doesn't signal any significant reversal move short...IMHO.
Lacunoide EverythingForex
You are right. Any way, caution is a good thing.. Sell the Highs, buy the lows.. And we are starting to be too high. We are approaching all time high on all pairs...

it could rise for months but you never know...

USDJPY, like all JPY pairs has the nasty habit to crash really hard in few days....
True that! Only thing that makes me think that this pair still needs to move higher is that it's almost crystal clear that it's currently in a typical Elliott 4th wave consolidation after a significant 3rd wave move up. So that means that there needs to be a 5th wave up to complete the overall 5 wave impulse move. BUT I do think that the 5th wave will be a truncated wave because I think you are correct and I agree with you and that this pair is overdue for a retracement very soon.

But again CAUTION is the word as there are so many traders who are thinking that and placing their sell orders with stops just above that major high that the "BIG BOYS" are certain to stop hunt and push prices up to catch all those stop orders! This would be the typical scenario where prices would shoot past that high and then reverse back down quickly!
Lacunoide EverythingForex
No problem, I am both buy and sell :-D i simply hedged my buy positions :-)
your C doesn't start at the actual low? and why would it take to develop since it looks like it's complete?
Lacunoide 99nines
I used 95.892 as low..
I don't know if it is correct :-)
but in this way AB is 26.000 pips and CD is 26.000 pips,,,,
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