KVE

USD/JPY: Triangle forming?

FX:USDJPY   U.S. Dollar/Japanese Yen
192 0 8
Took a short from 110.13 to possibly catch a C wave of zigzag ABC based on a possible AB=CD pattern...

Could still get it but down move stalled and I like to keep my options open, possible triangle formation is another option...

Therefor open short shift SL to BE and wait to see what develops...

Best long entry at either c or e of the triangle (if it develops into one...), or simply trade the breakout of the consolidation (red arrow)...

For now I wait...
Comment: I think it's safe to say we won't be getting the zigzag now...

Trendline also broke to the upside, triangle might therefor also get invalidated, a little soon to say but looks that way since the last move went straight up.

Smaller degree correction above the trendline will give us a buy opportunity, we'll see what happens on monday...

USD/JPY: Triangle forming?
Comment: Sorry, wrong link...:
snapshot
Order cancelled: False bullish breakout..., all bets are off for now...
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out