Entry @ 110 TP @ 108.4 See previous post for higher TF Bias
Still bearish on UsdJpy to completion of Butterfly pattern (See previous post) Waiting for a bearish reversal pattern for entry Retest of countertrendline TP 1: 106.00 TP 2: 105.25 From there price action will be monitored for next impulse
Dollar Index on the daily time frame looks like it's set for a free fall. ADX shows a very strong bearish trend and Stoch Rsi still shows strong selling pressure. When you look at the price levels its just broken through a resistance and it seems to keep trading in the fresh downwards channel. With this in mind, stay sharp on possible sell setups on the dollar...
Great opportunity to short usd/jpy for a long ride down. This is in correlation with USD weakness under trump presidency and also global indices calling for a huge correction on monthly charts. This analysis indicating a major sell off in USD. That could possibly be a geopolitical event maybe north korea/russia and US?? Its like the market predicting and...
USDJPY - Long Daily Might be a bigger correction forming, long
I just published an idea stating the exact opposite of this. sorry about that. The ema's are about to cross and reverse to the upside. Long!
EMAs showing overall bearish trend. resistance is 38.2. Should see a drop from there to 110's again.
Looks like usdjpy finished wave 3 and 4 within wave A to the downside. Testing 61.8 fibonacci levels, there should be one last drop to the 78.6 levels to complete wave 5 within wave A. Then B and C Follow.
Hey Folks, Facts: 1- Top of structure broken, so the 3 wave correction is about to end up. 2- There is still a chance of one more move up, watch for that. 3- As soon as market breaks trendline we will get in the trade. - Hola Amigos, Hechos: 1- Tope de la estructura roto por el mercado, por lo cual la correción de 3 ondas terminará pronto. 2- Cuidado! Quizás...
This is what i think is happening. Were on wave A to the downside. Weve finished wave 2 within Wave A so now were on wave 3.
Yesterday I made a mistake on my USDJPY idea. I was thinking it was doing a 5 wave impulse to the downside, but It isnt. USDJPY finished 5 waves to the upside and now we should see an ABC correction to the downside. Its possible wave B has finished, and now well see 5 waves down within this C wave to the downside. Another possibility is that were only on Wave A to...
Usdjpy hitting the trendline and the 38.2 fibbonacci level. Wave 3 Within wave 3 is next :)
You can see 5 waves within wave 1 and abc correction within wave 2 very clearly. If wave 3 is next, this will be a big drop. Keep in mind, Wave C within wave 2 could have more bullish room to go.
Should see abc correction to the down side.
I've been following Elliott wave on USDJPY for the past week now and have had consistent, profitable trades. It appears that Weve just finished 5 waves to the downside and now were moving into an ABC correction to the upside. Wave 5 may have more bearish room to go but we should see a correction to the upside soon.
Above is what I am currently watching on this pair. The outcome will largely depend on what the NFP report is relative to expectations. I would not trade until after the report at 7:30 a.m. CST. Have a good night:)
Overview - Sentiment immediately changed (...again... I know) from extreme bearish to excessive bullish from traders as we reverted back to the top of the channel. This is especially true in the USDJPY pair. The index and the USDJPY is still clearly in a downtrend. Unless you are eager to get ran over by the heavy weight greenback, I urge for confirmation before...