Happy new week traders!
In the USDJPY 4 hourly chart above, price broke out of a triangle pattern and made a five-wave impulse decline in wave (a).
A three-wave corrective move that unfolded has a zigzag pattern follows the sell-off in wave (b).
According to Elliot Wave theory, once a 5-3 wave cycle is completed, the price resumes in the direction of the impulse wave.
In USDJPY case, if this count is correct we should see a massive decline that will take the low of wave (a) in the days ahead.
- Invalidation level is the red line on the chart
- Entry is the green line which has been triggered
Alternative Count: 1-2, (I)-(ii).
Good luck on the chart!
Veejahbee
In the USDJPY 4 hourly chart above, price broke out of a triangle pattern and made a five-wave impulse decline in wave (a).
A three-wave corrective move that unfolded has a zigzag pattern follows the sell-off in wave (b).
According to Elliot Wave theory, once a 5-3 wave cycle is completed, the price resumes in the direction of the impulse wave.
In USDJPY case, if this count is correct we should see a massive decline that will take the low of wave (a) in the days ahead.
- Invalidation level is the red line on the chart
- Entry is the green line which has been triggered
Alternative Count: 1-2, (I)-(ii).
Good luck on the chart!
Veejahbee
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.