5th wave - Long Swing Trade on Euro Yen
Reasons to Enter Long:
- Elliot Wave count says ABC Correction could possibly be finished and wave 5 is about to start
- Doji Candlestick at 0.618 Fib
- Rejection at Wave 1 Support.
- RSI Support is Holding at 40 (Brown's RSI Rule says uptrend is still valid)
Reasons Not to enter Long:
- Major Support is broken and may be retesting
- Up trending Channel support is broken and may be restesting
Targets:
TP1 - Wave 3 High and Major support
TP2 - 1:1 Fib extension
Risk:
Below wave 1 Resistance - 70 Pips
If SL is triggered, I will go short down to next support
- Elliot Wave count says ABC Correction could possibly be finished and wave 5 is about to start
- Doji Candlestick at 0.618 Fib
- Rejection at Wave 1 Support.
- RSI Support is Holding at 40 (Brown's RSI Rule says uptrend is still valid)
Reasons Not to enter Long:
- Major Support is broken and may be retesting
- Up trending Channel support is broken and may be restesting
Targets:
TP1 - Wave 3 High and Major support
TP2 - 1:1 Fib extension
Risk:
Below wave 1 Resistance - 70 Pips
If SL is triggered, I will go short down to next support
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.