Wave-Trader
Short

USDJPY Dont miss this Fall

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Hi there,

USDJPY is still pushing for upside correctively. We are obviously bearish on it and we will sell it every time when it will form new high with in the correction.

Lets come to the point.

How you can trade on this chart.

1. Watch top and look for sell before market start to fall.

or

2. Wait for the impulse to appear and join the fall or get in on correction. For this price behaviour follow the lower time frame like 15 or 30 Minutes time frame.

Good Luck.
Jumping in now! Thanks for all your analysis, @Wave-Trader! You're the man!
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All of you who are buying USDJPY wil have a major surprise, keep on buying so you can feed my shorts!

ahhahaaaaaa
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tamilstocks Lionheart-EWA
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Wow how could you think it will go down further?.
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We see no reason to be that bearish currently, but we are short nonetheless only with a more moderate TP (109.800):

+2 Reply
raovida InvestingScope
@InvestingScope, He is a wave trader meaning he uses Elliot theory. After the flash crash you can easily count a 5 count wave, this final rally here is the 5th wave on the daily timeframe. So what will happen next is an ABC correction followed by either a rally that will turn this pair bullish on the weekly or follow this mans prediction of impulsing down.

Personally, I am observing a lot of bearish divergence on almost every single time frame from the hourly to the 3 week timeframe, this is what I refer to as all the stars aligning. He is most likely correct in his prediction, but of course with forex nothing is absolutely certain and some news (which would have to be big) could invalidate these divergences being seen.

The money flow to the relative price is showing that there is extremely high levels of selling pressure on all time frames above the 4 hour.

Also, go ahead and use your fibo on the DXY to see where the price got rejected (on the daily timeframe). You will notice it got HEAVILY rejected at the .786 level, indicating that it will now most likely continue its fall as the 1-3 week timeframes are demanding.

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@raovida, wow, that was really good reply.
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raovida InvestingScope
@InvestingScope, In addition if you use your fibo in the same way as he has it in his chart you will see the price has hit the .618 level indicating a hard reversal since it has respected that level pretty well
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@Wave-Trader why is that? Why do you think is bearish?
+1 Reply
raovida riccardo.pradella
@riccardo.pradella, He is a wave trader meaning he uses Elliot theory. After the flash crash you can easily count a 5 count wave, this final rally here is the 5th wave on the daily timeframe. So what will happen next is an ABC correction followed by either a rally that will turn this pair bullish on the weekly or follow this mans prediction of impulsing down.

Personally, I am observing a lot of bearish divergence on almost every single time frame from the hourly to the 3 week timeframe, this is what I refer to as all the stars aligning. He is most likely correct in his prediction, but of course with forex nothing is absolutely certain and some news (which would have to be big) could invalidate these divergences being seen.

The money flow to the relative price is showing that there is extremely high levels of selling pressure on all time frames above the 4 hour.

Also, go ahead and use your fibo on the DXY to see where the price got rejected (on the daily timeframe). You will notice it got HEAVILY rejected at the .786 level, indicating that it will now most likely continue its fall as the 1-3 week timeframes are demanding.
Reply
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