So I have been just patiently watching and watching USDJPY swing back and forth in this current correction letting it do its' thing. It has taken some time but that correction may be coming to an end soon. Very soon. Maybe within the next 24 hours! Then after that, another BIG MOVE will be on its' way. But this "BIG MOVE" maybe the last one for this current downtrend.
This is the USDJPY that I have followed for quite some time now with minor adjustments along the way. This has been and still is a reliable "roadmap" for my trading plan on this pair and this "roadmap" has yielded me thousands of pips! And I aim to pick up some more! You can see here that this overall downtrend has been trading inside a trading channel for this entire time. The entirety of the USDJPY downtrend is the wave (3) of this whole impulse decline. And as by my labeling, that wave (3) is not yet finished. I have been waiting on that final wave 5 of (3) that is yet to come. The current correction is the wave (iv) of the wave 5 of (3).
I think you can figure out where I'm going with this just from this . But I have a complete analysis including exactly where will be the optimum point to take a trade available on my website. So if you want to see that as well as get an alert when I take this trade, go here: http://goo.gl/qRNGsF
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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