1DAYUMAY
Short

USDJPY trading a C wave in a zig zag

FX:USDJPY   U.S. Dollar/Japanese Yen
693 0 0
on a 4hr chart and above red wave 1 appears complete and we are working on red wave 2 and once complete 5 larger waves for red wave 3 (not shown)

on the 30 min chart above we are breaking down the zig zag of red wave 2

since we have 5 waves down in blue wave A we expect a 3 wave correction for blue wave B. blue wave B is a 3 wave expanded flat. now that blue wave B appears complete we expect 5 waves down for blue wave C

good elliot wave setup risk/reward

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