KVE
Short

USD/JPY: possible alternative patterns to go short

FX:USDJPY   U.S. Dollar/Japanese Yen
93 0 6
I'm short off the butterfly (pink) but we could also draw a cypher (green) or a bat (blue).

As far as my (still limited, don't take my word on it!!) knowledge of EW analysis goes I believe we could have finished minor wave 3 of intermediate A when the butterfly completed (if I take the end of intermediate wave 5 to be at the bat A point).
Wave 2 was sharp so 4 has more chance to be flat and/or complex.

Waiting to see if minor wave 4 ends at a channel/fib crossing to possibly predict the end of minor wave 5 of intermediate A. This should also give more clues as to where SL should be to trade the bat...

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out