This trade has been just beautiful,our latest Elliot Wave study just gave us a crazy run from 123.3 down to a line in the sand at 119.80
It will take some serious pressure to break the next 1st stop, so anything breaking 119.2 we are officially into final Wave5 and down we go. Otherwise enjoy the next a,b,c into the 122 area.
The long trend line (2015-2016) and a recent parallel line keep proving this good range trade.
While EURJPY appears down down, it is actually in the reload zone recent fib study. This zone has been verified multiple times as has its 1st stop.
I have 2 orders, EURJPY, long today with exit at and just above the 1st stop.
Be buyin when theyre cryn.
I really enjoy seeing correlations.
Playing with Elliot Wave I found that the EUR/JPY pair was in a Bull wave 3 of a Bear Elliot Wave while the USDJPY pair is working a complete fresh Bull wave that both started Bear Waves on Dec 14th!
very nice and just wanted to share :D
I will add the second chart
EURJPY and USDJPY can appear to be a really difficult pair for us new traders to day trade.
But backing out just a little we can see a lot of recent consistency.
This Fib study has EURJPY back in the 618-786 zone.
We can also see MACD strengthening while the Williams MA is starting to bottom.
Keep an eye on this one to Bull run again into the multiple verified...
My previous NZD/USD basic fib study chases the current NZD/USD bearish move.
For a different angle I would like to plan a Long trade just in case.
Treasury yields keep rising so I may be searching for more USD short trades.
Elliot Wave fell into my lap last night perusing the boards so please forgive my lack of understanding.
Horsing around with the USD/JPY pair noticed an Elliot Wave Bull pattern begin during summer 2015 that just ended July 2016. It appeared the impulsive/corrective patterns did support this study. Following that 5th wave was a nice Flat Bull from July to...