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Taking a systematic approach to FX.
si è formato un gartley sulla coppia JPYUSD su H1
Purtroppo l' ho pubblicato in ritardo e ci si siamo persi un po di movimento in profitto..meglio poco che niente ...comunque puntiamo al secondo target del 61.8
STOP LOSS est.1.13 fibonacci
On the 60 minute chart with JPY - USD. Now my indications are telling me we may have a long on our hands with it being in the oversold area. Good previous bounce action on our channel support line. Were will wait for candle stick signal to enter this trade!
I will keep everyone updated as to what happens! Please comment your thoughts as ...
not a trading idea, just a record for myself
wait for a breakout
if we dont trade with that belief you will never succeed in this industry trust in yourself
JPY is moving in a nice range for the last while, which means we're going to trade mean reversion. I've learned that RSI, Stochastic and other overbought/sold indicators are more useful for this than trend trading, so we'll rely heavily on them for this type of setup.
- JPY is right at the top of the trading range, being clearly rejected with fat bearish candle ...
Long on a break over 0.00905 $EWJ $JPNL
00Possible move up after consolidation break. Potential AB=CD, price target at 0.0092 to test next horizontal light blue resistance line. Awesome Oscillator at 0 line (possible support)
The JPYUSD chart presents an interesting formation in regards to Elliot Wave formation and Fibonacci price theory. One could argue the current lows MAY form support given the past price action. Yet, I believe this weakness in price will likely continue for some time forward as I don't see the Japanese Yen developing any true support at this time.
The dynamics ...
we are on the c wave of our correction wave, and chances are, the market is going to make the ABCDE OR ABC pattern before it starts a new impulse wave.
We may be seeing a Cup & Handle pattern play out here in the JPY/USD chart, along with the completion of an Elliott wave corrective pattern. The target box is outlined using retracements of the longer-term downward wave A.
It's been a choppy few years, but I believe JPYUSD will ultimately return to the uptrend range that has been established since 1986.
I don't follow market news very closely, so I would appreciate any feedback on market news that points in the other direction.
Not going to get into too much detail here. I covered these targets in the 2hr update, but I wanted to post this for tracking purposes and to show the sub-wave count for this leading diagonal.
We should expect to head towards $7620 here, this is the 0.618 fib extension of wave (3). However diagonals have a tendency, especially in BTC, to overthrow on wave 5 so ...
A follow up to my last post. Here we are looking at the breakdown of wave (b) of wave circle iii. This ABC is a zigzag given the 5-wave substructure of wave (a). I will get into the nitty gritty of this micro-wedge in my next post, but it looks to me like wave a of (b) is a leading diagonal. Again, this count invalidates if price moves above the previous high of ...
I wanted to start tracking my primary BTCUSD wave count. This post will be for the larger time-frame count and will follow up with two more zoomed in counts, and potentially some alternates. I will try and keep this thread as the primary one for tracking purposes and update as this unfold, or until it invalidates.
I currently see us being in an ending diagonal, ...