looks like wave 2(blue) is completed.
it's clear abc 3-3-5 flat pattern
wave C is 1.618 of wave A (113.68)
wave 2 retraces 61.8% of wave 1(blue) (113.73)
in my book it's a good buy opportunity.
good luck, traders!
it's clear abc 3-3-5 flat pattern
wave C is 1.618 of wave A (113.68)
wave 2 retraces 61.8% of wave 1(blue) (113.73)
in my book it's a good buy opportunity.
good luck, traders!
Trade ativo:
wave C is actually longer than I expected, but it still does not move beyond the start of wave 1 (112.56).
wave 2(blue) corrects 78% of wave 1 and bottoms in the price range of wave 2 of lesser degree.(green)
wave C channel is broken.
so, buy setup is still valid.
wave 2(blue) corrects 78% of wave 1 and bottoms in the price range of wave 2 of lesser degree.(green)
wave C channel is broken.
so, buy setup is still valid.
Trade ativo:
breakout of (5)th wave trend line.
usdjpy looks bullish.
usdjpy looks bullish.
Trade ativo:
entire wave 4 structure (ABC 3-3-5) flat - yellow) looks to be completed.
so, wave 5 (up) unfolds
targer is 120
so, wave 5 (up) unfolds
targer is 120
Trade ativo:
well!
wave C(yellow) structure is finally broken
looks like buy signal.
safe long entry will be after price makes a flag and then breaks it.
good luck!
trade with care!
wave C(yellow) structure is finally broken
looks like buy signal.
trade with care!
Comentário:
currently usdjpy performs correction pattern
114.45 and 113.89 is expected targets.
114.45 and 113.89 is expected targets.
So I want to present you an alternative view on (yellow) C wave configuration, which is a part of ABC pattern that corrects (yellow) 3rd wave (rise from 27/09/2016 to 15/12/2016).
Wave C is always a 5 wave structure(impulse or diagonal), and it was formed on 17 jan, there also were an ending diagonal in 5th wave of lesser degree(last swing), which indicates reversal. looks like a very good ending for wave C(yellow).
this scenario is still in play. invalidation comes, when price goes below 17 jan bottom(112.56).
but there is an alternative, which comes in play, when price goes below 17 jan bottom.
ALTERNATIVE 1: wave 3 is an extention. in this case, we need wave 5 to complete wave C(5 wave structure)
target may be 111.67 (38.2%).
Current wave 4 corrects less than 38% of wave 3. it may be not enough.