USDJPY Short Trade Setup
Aggiornato
Whenever multiple styles of trading come together to give off a harmonious (excuse the pun) setup, I always gear up for a big move.
UJ has provided a clean 5 wave impulse move to the upside and therefore breaking out of an ending diagonal (that can be seen on the
daily or weekly timeframes). We find ourselves in a lengthy correction/consolidation. We may be in the final leg of the correction (C)
and as per theory this wave has an impulsive nature (quick, strong, lucrative). I will therefore be looking to ride this wave down to
the end of wave (A)- which has a higher probability than riding it to a 161.8% projection of wave (A)-Should this be a flat correction
structure.
Targets:
107.600
107.350
105.250-Least likely to be reached.
Let me know below what your thoughts are, looking forward to this trade.
UJ has provided a clean 5 wave impulse move to the upside and therefore breaking out of an ending diagonal (that can be seen on the
daily or weekly timeframes). We find ourselves in a lengthy correction/consolidation. We may be in the final leg of the correction (C)
and as per theory this wave has an impulsive nature (quick, strong, lucrative). I will therefore be looking to ride this wave down to
the end of wave (A)- which has a higher probability than riding it to a 161.8% projection of wave (A)-Should this be a flat correction
structure.
Targets:
107.600
107.350
105.250-Least likely to be reached.
Let me know below what your thoughts are, looking forward to this trade.
Nota
Trade attivo
Pending order entry triggered
Trade chiuso: stop raggiunto
SL hit unfortunately
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