FX:USDJPY   U.S. Dollar/Japanese Yen
827 11 14
Longer term I expect USDJPY             to reach 107, however short term I expect at least another leg higher within this correction of larger degree.

I will be looking for a buy opportunity from the lower time frames to target 116.
At the moment we see an impulse on the 15 min time frame of lesser degree and I will be looking for a consolidation on 15 min time frame to end by means of a bullish continuation Price should in that case not take out the low of what is currently counted as wave B.

http://www.timstuyts.com

facebook/timstuyts/
Comment: Let's see whether price consolidates after the impulse higher from the double bottom zone. If we see the continuation higher buy USDJPY for 116.

snapshot
Trade active: Hope you guy's didn't miss this trade. We saw that consolidation of lesser degree finding a bottom at 112. I'm long with 2 entries and both are at break even now. I target 116. each consolidation up to that level is another opportunity as long as structure doesn't change. My stops are alway's below the consolidation where I bought out of. Hence an incredible risk/reward for this trade so now I have to wait and see how price unfolds. Good trading

snapshot
This pair takes its time for the likely reversal. This is what I'm looking for regarding a buy trade. For now I don't want to see a break below the low at 110.96 in terms of the Elliott Wave count.

snapshot
Reply
Update

snapshot
Reply
First trade got taken out at break-even, however the structure didn't change and I'm looking for the same kind of set-up for a buy. Want to see an impulse of lesser degree and consolidation before buying the continuation.

snapshot
Reply
good wave of C, I dont know where is the start point of wave C!
Reply
TimStuyts wangbujun
Not sure whether I understand your comment. The start point of wave C is the end of wave B. So for now I count the end of wave B at 112.98.
Reply
TimStuyts TimStuyts
sorry 112.298
Reply
when you say not take out the low... do you mean low of friday or low of 110.97? thanks
Reply
TimStuyts newbie2016
I refer to Friday's low, if we do the process has to start all over again in terms of looking for a reversal structure. However I believe that a break below 112 will result in at a double bottom. This is a good area for the reversal so let's see whether we get it.
Hope this answers the question.
Reply
newbie2016 TimStuyts
i also think for doube bottom below 112 or another test of 111 close to 111.4 if 112 cracks down.. so far uj seems good opportunity for long side.
Reply
newbie2016 TimStuyts
thanks for detailed reply.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out