USDJPY (UJ ) is giving it again to us with its seasonal drop. This time it was again the question if the Cup and Handle would be completed by UC and UJ or not.
The chart includes both scenarios. Either based on the Cup & Handle or based on a Triangle, giving two opposite outcomes, very nice.
Any update on that chart? It's taking a while before moving, right?
Deep-Peat-Shark
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@lu1977hk, My apologies for my belated reply. I feel every day the same thing. We are the market and the market is slow because we make it that way. Speculation seem to have a big say these weeks of reversal. The USD has started its descent but with a speed about 4 times slower than normal. Everything seems to have that speed this year, I recently reasoned that we may near a super big event and that causes the market to slow down because of the complexity it entails. Who knows? To be continued...
lapin_eliott
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it has already exited the triangle ... going directly to ~120
Deep-Peat-Shark
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@lapin_eliott, Not so jumpy, hold on, it's a month time frame and an exit is confirmed by a closed bat completely outside the triangle. Current bar has been drawn from inside so is not a valid bar. You'll have to wait for the next 1M bar closing outside triangle so no confirmation till at least 6 weeks down road.
TradeSignals
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@ArnaudKleinveld, wow m8, same thinking on SCENARIO 2! I am more conservative though, UJ TO 93-95!
Deep-Peat-Shark
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@TradeSignals, Yeah, it's extreme I know. On my UJ seasonality idea I have a more conservative view to 100-102. Which is more likely I guess.