1. Wave 2 Green is Flat waves
2. Wave 4 Green alternating zig-zag wave.
1. Price above the green and red area-Long
2. Blue and orange line do not cross-No trend change
3. Light blue price above dark blue price-Long
1. Histogram above line-long
1. Blackline below top line and toward south-short
1. The blue line and...
Stoch RSI and MACD are 2 indicators have crossed over and headed to south. It confirmed sub wave (3) in brown of Wave C down trend. Upper blue trend line may form a support for sub wave 1 (light blue). Look for target retrace 0.618 of sub wave 1 (light blue). Wave (3) brown is the most powerful down trend that we can take profit.
USDJPY pair wave WXY (light blue) is over and new trend started. New wave started with 5 wave up (12345 cycle red) and retrace with wave ABC (cycle blue). Waiting Wave B (cycle blue) completed, short with Wave C (cycle blue).
1st wave 1 (purple color wave) and wave 2 (purple color wave) are just completed. Wave 3 (purple color wave) is started, just long the USDJPY while the small degree retracement end. The Primary wave 5 (in brown color) will be completed soon.
It seem like diagonal is happening. After the Wave V, it will be follow by big retracement (red arrow down)
Short at Wave IV (wave ABC black).
Long at Wave V (wave ABC black)
Now should be the rite time for Wave IV.
The trend still within the channel line. It is perfect impulsive wave. The subwave 2-red is completed at 104.320. New subwave 3-red just start after USD ISM Non Manufacturing data showed behind expectation. Sub wave 3 red is expected to completed at target 90.715. Complication of Wave 5 in bracket green after subwave 5 in red end somewhere 86.040.
USDMYR is at the retracement. But price resistance at 4.399 to 4.435 and support at 4.098 and 4.102. Price action is at flat, no major. We see the trend when price action break the resistance and support line. However MACD (18,30,15) shows signal lines are crossed and histogram is positive. Price action has change to move up few hundred pips. Then price action...