traderWgun
Short

A bearish count

FX:USDJPY   U.S. Dollar/Japanese Yen
329 8 2
This is a counter idea for my previous idea
Looks like we


This weeklys and fridays candle sticks suggests bearish price action
is on the cards. So I thought it maybe good to share a bearish idea.

This idea suggest that the drop from the 105:s
was a leading diagonal . At the moment we have
completed 7 swings to the upside, where w=y.

As long as the x-wave low (101.182) holds we can't rule out more
upside to complete a triple zigzag correction.

More importantly, the market has to take out the 102.632 high
to confirm that the move from the x-wave low was indeed
a three wave sequence, and not an ongoing 5 waves advance.

I will probably end up shorting this pair against last weeks high
because of the bearish candlesticks on the weekly and daily chart ,
aswell as keeping an close eye on the mentioned levels
and my previous, bullish idea.

Follow all my demo trades at http://www.myfxbook.com/members/tlkemmy/demo/854232
Good luck!

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