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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.