FX:USDJPY   U.S. Dollar/Japanese Yen
15609 102 325
9 days ago
Hi Guys, The USDJPY             is making a nice flag, selling the break out for an impulse down looks like a good idea. I am expecting some down correction after the strong up impulse.


Trade with care
Thank you for your support.
9 days ago
Comment:
snapshot
YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
Facebook: https://www.facebook.com/ProwaveTrader
Training : add to skype mangal457
Thank you for your guidance. I was on sell since 3 hours ago after leg B was formed on 1h. Took a while but it's now on the way down last time I checked.
Reply
Swerver
9 days ago
Looking at a similar price in a harmonic setup..

thanks for sharing
Reply
anilmangal TOP Swerver
9 days ago
@Swerver, nice but if you understand wave structure you would know the some time the correction is 3 wave in which case the harmonic works well and some time 5 in which case it might not work . There is always a chance for this to be an expanding pattern in which case the b wave goes above the A and then the harmonic fails. That is why i wait for the break out to confirm my analysis and avoid an unnecessary lost . Hope this helps.
snapshot
+18 Reply
Swerver anilmangal
9 days ago
@anilmangal, Actually Looking at a larger TF, on structure. I am looking for a rise in price above current high and divergence on the DAILY for any possible entry
I have an understanding of wave structure, thanks for sharing though.

What I am looking at is your action of price to raise above current high then through, I am not interested in the trade without price divergence on such a Large daily pattern

snapshot




+4 Reply
JavierFX15 Swerver
9 days ago
@Swerver, interesting input.. and definetely possible!
+2 Reply
Swerver JavierFX15
9 days ago
@JavierFX15, Thanks, generally on a DAILY like this if we see price rise over the week and RSI diverge at a harmonic interval, we could possibly see a massive short entry, we are still oversold. Price diverging on the DAILY is generally the top for some period
A typical entry in this case would have RSI come back under overbought and retest the overbought as price moves higher. huge pips if hit is noted :)
Reply
Swerver Swerver
9 days ago
overbought not oversold sorry :)
Reply
JavierFX15 Swerver
9 days ago
@Swerver, I appreciate the note man..
I learn so much from you guys!
+1 Reply
Swerver JavierFX15
8 days ago
@JavierFX15, Here is your divergence setup, do with it what you will :)

snapshot
+3 Reply
anilmangal TOP anilmangal
9 days ago
@anilmangal, like i said here it is possible this could break the top , let's see if it makes an expanding flat.
+1 Reply
arshadd anilmangal
8 days ago
@anilmangal, i like the way you respond.
Reply
kebunsaham
9 days ago
Thanks you mr.Anil
Reply
Kumail
9 days ago
Thx :)

Curious though - your arrow up first, expecting more upside? Is there a potential buy setup occuring? Would it be a potential 100 pips up? Or could we expect an immediate downwards movement as well?
+1 Reply
anilmangal TOP Kumail
9 days ago
@Kumail, I don;t trade such short term trades ,
snapshot
+5 Reply
Kumail anilmangal
9 days ago
@anilmangal, Thanks for the reply and clarity. Appreciate it!!
Reply
puretradelife PRO anilmangal
9 days ago
@anilmangal, could move lower from here, though
Reply
JavierFX15 puretradelife
9 days ago
@puretradelife, it could have, but it is moving higher..
Good luck!
+1 Reply
gaptraderhq anilmangal
7 days ago
@anilmangal, Mate what are your thoughts... Can we see 109ish again? Well I hope so.
Reply
anilmangal TOP gaptraderhq
7 days ago
@mattuptin,
snapshot
Reply
gaptraderhq anilmangal
7 days ago
@anilmangal, Thankyou. Appreciate your reply... Sorry don't know your name... Have a great weekend. ;o)
Reply
nhlevi Kumail
9 days ago
@Kumail, these arrows are just expectations, it's not clear if the price moves up 5 pips or 50 before the move down, or if it will move lower at all. Wave and structure based trading is always anticipatory: if price does X then Y could happen, which could lead to Z long/short opportunity.
+1 Reply
Kumail nhlevi
9 days ago
@nhlevi, Thx, noted :)
Reply
SadunAlpdag
9 days ago
thanks for the comment
Reply
Gabukunaya
9 days ago
Is it too late to buy USD/JPY now?
Reply
Gabukunaya Gabukunaya
9 days ago
@anilmangal is this based on the forecast too, sir?
Reply
Hi anilmangal, Thank you for sharing your ideas and thought, actually it helps very much !!!, can you please let us know after the structure break down, which price do you think the price will sit on, because i think it would a big breakdown ?

cheers
Reply
JavierFX15
9 days ago
Mr Anil, I am studying the Elliot waves just like you always recommend and I am glad you are posting this update because it is same picture I was drawing. So it seems I am doing ok but I also know this is just the tip of the iceberg.
Thank you for sharing your ideas with us...
+1 Reply
Gabukunaya JavierFX15
9 days ago
@JavierFX15, The tip is right now?
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, yes.. that it is happening right now..
Reply
Gabukunaya JavierFX15
9 days ago
@JavierFX15, But it will increase to 113, will it not?
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, according to Mr Anil's pic, it could go all the way to almost 114.. but remember this help from Mr Anil gives us an idea but it does not mean it will happen exactly to those points.. but he is veeeery accurate. Also remember what he said, if price goes above that 113.9 aprox could not be for a sell any longer. We will see..
Reply
Gabukunaya JavierFX15
9 days ago
@JavierFX15, We could say that it'll go 113.2 for at the least right? On behalf of Mr Anil's accuracy.
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, when reaching that area is when we have to keep eyes open. But don't get frustrated if goes a little and a little and a little higher.. wait until you have clear signs that it is good time for placing your trade .
Reply
Gabukunaya JavierFX15
9 days ago
@JavierFX15, Actually, I'm planning to sell on the highest point possible (greed much, silly me). yeah.. 113.2 is close by! eyes open!
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, so greedy ! I am as well :) the good kind of greed right? Almost there..
Reply
Gabukunaya JavierFX15
9 days ago
@JavierFX15, does 113.2 sound too high?
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, my analysis doesn't go above that number but everything is possible
Reply
JavierFX15 JavierFX15
9 days ago
@JavierFX15, maybe a good time now?
Reply
Gabukunaya JavierFX15
9 days ago
@JavierFX15, closed mine on 113.072.
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, so funny.... me too! If it goes above .15 I will get so nervous and anxious!
Reply
Gabukunaya Gabukunaya
9 days ago
@Gabukunaya, Analysing on selling point now. Any comments that might help?
Reply
JavierFX15 Gabukunaya
9 days ago
@Gabukunaya, well, it can always come back to re test (like right now).. hopefully not for going above and beyond..
Reply
javiertu JavierFX15
9 days ago
@JavierFX15, well.. it did indeed. Hopefully you had set up a stop loss. Still, following on Anil to make sure we do it right..
Reply
Most of the time I do not agree with you but this time I do. Should be a very nice move down here and it should be simi fast move too.
Reply
Gabukunaya RobbyWestHouston
9 days ago
@RobbyWestHouston, Close now?
Reply
Dewald206
9 days ago
Hi Anil. Aud/Jpy 1 HOUR rising wedge? Sell the breakout?
Reply
im selling now
Reply
RivAngE
9 days ago
Few... you saved me sir! I was short and I opened the same amount of positions in long when I sow your analysis.
However I believe there is a good chance that there is a triangle formation like this one I've drew https://www.tradingview.com/chart/ShLf1kzd/
So I've took profit on half of my longs on 113.150 and now waiting for the price to fall, making break-even on the rest of my longs and brake the down trendline. Since I'm only trading for 3 months though I'm wrong pretty often! x(

I know you're very busy but I'd be happy if you could provide a novice like me a feedback on my analysis; have I drawn trendlines all over the place like you sometimes say or do they have a logic?

Thank you very much for your work and teachigns.
Best regards,
Tasos from Greece
+1 Reply
anilmangal TOP RivAngE
9 days ago
@RivAngE, Glad to help, your chart is too busy for me , try to keep it clean and clear, some trend lines are incorrect.
+3 Reply
This and the euro are good atm. (short dollar against them)
Cheers.
+1 Reply
Joey_Hanesher
9 days ago
Hi anil, any updates on USDCAD ? is this the long-awaited trade to the downside ?
Reply
mdvisser
9 days ago
Ive studied strategies for the past five years. The only way to succeed is through wave analysis. This is all I want to say.
Reply
Hi, I dont have a lot of understanding of wave structure so I am going to have a guess at what I have looked at on USD JPY. The impulse move down is wave 1, retracement back up is wave 2. Its now consolidating and if it breaks to down side then we are in wave 3, the next move down but if it breaks to up side then this whole wave is invalid and the process begins again. P.S Thanks for sharing and your videos on youtube are great.
Reply
Hi, I dont have a lot of understanding of wave structure so I am going to have a guess at what I have looked at on USD JPY daily and 60 Min. The impulse move down is wave 1, retracement back up is wave 2. Its now consolidating and if it breaks to down side then we are in wave 3, the next move down but if it breaks to up side then this whole wave is invalid and the process begins again. P.S Thanks for sharing and your videos on youtube are great. Posablie target on weekly
Reply
anilmangal TOP ColinH001
9 days ago
@ColinH001, no you understand it incorrectly
+1 Reply
Ron77 PRO
9 days ago
Thank's for you're share anil.

Is the scenario invalidated? Considering the breakup now on H1 of the resistance
+4 Reply
willzhang6
9 days ago
Thank you for your guidance. The price seems to have broke the upper edge of the flag for this pair, what do you think it is going to happen next for this pair? Thank you again.
Reply
FerminNunez
9 days ago
Just broke resistance , Wave structure on 60 min TF it is a wave 3 will follow a correction that would be wave 4 finally will go higher to complete the 5 wave sequence
https://www.tradingview.com/chart/HX5RYP81/
+2 Reply
JoseNeto
9 days ago
Thanks for sharing that Anil, good work
Reply
watsonzou26
9 days ago
I love your second chart, Anil. thanks for sharing.
Reply
Karina12
9 days ago
Thank you Anil. Do you think aud and jpy are opposite, if one goes down the other will go up?
Reply
RobyTrade
9 days ago
Perfect reading Anil, thanks for the language course!
Reply
araztrader
9 days ago
thanks Anil
Reply
beedoo1987
9 days ago
Hope this will fall, i have open trade
Reply
BabasNumbaOne
9 days ago
Hi anil !! There is my Prediction for usdjpy. Sorry I had no time to publish before

[USDJPY] More long coming up.
Reply
Kumail
9 days ago
Ty for the update!
Reply
BabasNumbaOne
9 days ago
snapshot
Reply
javiertu BabasNumbaOne
9 days ago
@BabasNumbaOne, NICE !!
Reply
BabasNumbaOne javiertu
9 days ago
@javiertu, Thank Friend!
Reply
gaptraderhq BabasNumbaOne
8 days ago
@BabasNumbaOne, Mate I am Short with a lot of trades... Is there ANY chance of it going near or back to 109.0??? Appreciate any advice.
Reply
BabasNumbaOne gaptraderhq
8 days ago
@mattuptin, Not for now my friend ! I tried to show it in this snap

snapshot
Reply
BabasNumbaOne BabasNumbaOne
8 days ago
@BabasNumbaOne, but I am not 100 % Sure I am not a wizard ahahaha, I will say 75 to 85 % Accuracy.
Reply
BabasNumbaOne gaptraderhq
8 days ago
@mattuptin, I think that this will be the nearest to 109... Until Mid-December. Then There will be some huge pullbacks!
Another advice is if you get out of your trades, don't chase the high Dollar. Wait for the pullback of mid-dec There will be plenty for everybody...
If I were in your position, this is what I will do...

snapshot
Reply
gaptraderhq BabasNumbaOne
7 days ago
@BabasNumbaOne, I have to many trades Short open to get out of them. I can hold with margin no worries (a lot in the red). But a pullback to around 109.0 would be very very nice & less stress full. Wait another 2 wks & see what happens. Is this your thoughts as well? Cheers ;o)
Reply
BabasNumbaOne gaptraderhq
7 days ago
@mattuptin, Yes Mate, Starting at 12/14/2016, you will see some major pull backs on DXY, And there will be an opportunity to close your trade and even make a little money. I will try to keep an update. But if I forget just send me a private message and I will update.
Reply
gaptraderhq BabasNumbaOne
7 days ago
@BabasNumbaOne, Really do appreciate it. Sorry don't know your name. Thanks again. Have a great weekend! ;o)
Reply
tradermannn
9 days ago
sir thank you, can you update us when its making a flag for buy?

the sharp impulse down i think simple to see but the flag for buy i think is more complex,

thank you!
Reply
SasanSAM
9 days ago
Hi Mate...s Traders must understand that some analysis failed and you told this one ..
thank you bro
Reply
mych36
8 days ago
Are you using your MACD for anything? or simply looking at breakouts in flag patterns?

Also, if a sharp reversal happens? why not just jump in with a short position? Why wait for a flag?
+1 Reply
AbdorhmanThi mych36
8 days ago
@mych36, Waiting for a flag is to avoid unnecessary lost. Since you dont know when or if price will reversal sharply. Best way to approach it is to way for a corrective flag. This is a more conservative approach.
Reply
Swerver mych36
8 days ago
@mych36, MACD? Its a Christmas tree indicator, red and green uselessness :) - RSI has a use when used correctly
Reply
Kumail
8 days ago
I thought this was a Sharp Reversal, but now I'm thinking it might be a sharp-ish flag. Maybe potential buy setup?

snapshot


Following your updates closely :)
Reply
Justinceo Kumail
8 days ago
@Kumail, i am thinking as well, buy or not ~.~
Reply
anilmangal TOP Justinceo
8 days ago
@Justinceo, no buy as yet
+3 Reply
Kumail anilmangal
8 days ago
Ty sir :)
Reply
gaptraderhq anilmangal
8 days ago
@anilmangal, Mate I am Short with a lot of trades... Is there ANY chance of it going near or back to 109.0??? Appreciate any advice.
Reply
anilmangal TOP gaptraderhq
8 days ago
@mattuptin,
snapshot
Reply
gaptraderhq anilmangal
7 days ago
@anilmangal, I have to many trades Short open to get out of them. I can hold with margin no worries (a lot in the red). But a pullback to around 109.0 would be very very nice & less stress full. Wait another 2 wks & see what happens. Is this your thoughts as well? Cheers ;o)
Reply
mohammadrafiee
8 days ago
buy usdjpy
Reply
BhaktaBasics
8 days ago
snapshot

I think we will see a test of the pink zone (untested strong S/R area since the breakdown a few months back) before a more meaningful correction (flag/ABC/whatever), before a stronger move towards long term descending trend line. This should hopefully mark the top of the $ run higher. Just my thoughts ...
Reply
lencanoot
8 days ago
Looks like a buy now?
snapshot
Reply
swolf00183
8 days ago
Just an advice to you...Stop Trading USDJPY, you get fooled everytime complicating the pair direction with your wave structure
+3 Reply
TheWave
8 days ago
Top was broken. Still sell?
Reply
WSM
8 days ago
perfect chart thanks for sharing and personally i think it's still a valid short with a fake breakout
Reply
streetgainer
7 days ago
snapshot
Reply
streetgainer streetgainer
5 days ago
Reply
morkovka
7 days ago
Hello Anil. Are you doing the webinar today?
Reply
Yasin.Ghasemi
7 days ago
hey bro...the flag is bearish or bullish ? in my page that is bullish
Reply
IshanTripathi
7 days ago
SHould we short it now?? What do you suggest??
Reply
morkovka IshanTripathi
7 days ago
@IshanTripathi, bullish flag don't do this.
Reply
IshanTripathi morkovka
7 days ago
@morkovka, Okay. Noted.thanks
Reply
i agree with mr anil coz wave 4 have just complete a normal zig zag correction and wave 5 of bigger wave C seems to be come to its end so its a good RR trade the pattern it is forming teels us it would go all the way down to 98.00-98.50.good luck.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out