small short position, also USDJPY tightening up
will play it by ear
This looks like a good short opportunity going into next week
Wave 5 targets hit:
.382 Internal ret
.618 & 1.382 Alternate price projections
+ Trend line support
Daily momentum oversold
- Waiting for 4hr StochRSI to reverse for confirmation
100% L-L cycle reached (plus 1.618 fib time ret)
Looking to possibly enter short next week on momentum confirmation (StochRSI) on the 4hr
Daily momentum is already bearish.
Will update price targets on entry
Hit ascending trendline support at the close, as well as fib support
Short term price target: 1.0635
Possible ABCD pattern forming, with D wave support at .618 fib level, there is also the .382 time ratio for the B-C Wave. StochRSI is at the oversold level as well.