USDJPY - Short the dollar -for the elections - R/R > 1:5 !

Wave C finished (?) just now it seems. Divergence confirms this.

This aligns with the expected move from the mid-term elections in the US.
It's expected the Demacrats win 1 house, wich will have a slight negative impact on the USD butthe underlying trends will remain mostly intact.
In case the Dems win both houses, it's going to be VERY bearish for the dollar.
The alternative case, in wich the Republicans retain control of both houses, expect the dollar to get some strenght.

Therefore, trade accordingly once the results come out.


My Trade Setup :

Entry : on channel break preferably
Target 1 : 110.4
Target 2 : 108.6
Stop : 113.46
R/R Ratio : > 1:5 !!!


---> If you are already shorting, consider moving your Stop above wave C.

Trade active:

Trade active @ 113.10

Price went a few pips higher before falling.
Therefore set your Stop @ 113.52

Trade closed: stop reached:

Well, this onre was lost, the usd was traded accordingly everytime a new result happend. Dems > Down , Rep < Up.

Now, waxit for a confirmation before re-entering short.