WallStScalper
Long

Back & forth - EW wave 2 of 3 Short term long before big short

FX:USDJPY   U.S. Dollar/Japanese Yen
563 5 8
Follow up on USDJPY            
Should be heading for a 61.8 retrace after a wave 1 of 3 down. But do not necessarily go all the way for a 61.8 retrace.
If gold             catch a bid and SP             are heading down for a major wave 4 correction over the next couple of month things could get bloody ....fast
The invalidation of this count will be at 104,819. (Correct line in the sand is 104.938)
I see a short term correction upwards for making a wave 2 of 3. I will be big time short there for a wave 3 of 3 down
As always time will show
Safe trading ladies & gents.
BM
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kuzibekov
3 years ago
Sir. it's almost there now, short again or it's back to main trend ?
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WallStScalper PRO kuzibekov
3 years ago
Good question.... First of all it's about time going neutral and see price action around close... could be key. but currency market open longer so .... hard to say anything right now.
Under a 78 fib retrace count is valid .Above a 78 fib retrace and the count is for sure invalid.
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cerebrus
3 years ago
From your chart, looks like it is now time to short. Unless this is a minor bounce off the 618.
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kuzibekov
3 years ago
Thank you for the comment Sir.
What if h4 closes above 104.4 level? can we say we are heading to new high of the year?
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Back'n'forth So far the 78 fib level hasn't been taken out. So my count is still very much valid. One of the reasons there is a huge move in a EW 3 of 3 is due to the choppiness that there normally is taken place up to the move. Both parts - bear'n'bull see a strong case for the opposite reaction ..... Back'n'forth = choppy area. . But for now...I stick to my guns at see this currency pair moving lower. I see choppy trading as long as it's under the fib 78. I'll make and update as soon as I have a hint of direction. Safe trading gents!
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