Hey traders! USDJPY is nearing the completion of a . The wave pattern is predicted to complete near the base of wave-i-of-v-of-1, so a stop can be tightly placed below point X of the bat. Also, the TP can be placed at the top of wave-1 which coincides with the top of the . This way, we maximize our R/R ratio and get out of the trade immediately if the wave count is invalidated.
Comment: Long is technically active, but I will be waiting for an impulse to buy the pullback. Here is the price action on a tighter TF:
Comment: Nice Rebound!
Comment: If you have not yet entered this one and want to be long USDJPY, here is an idea for entry: