Possible reversal to upside; USDJPY
Daily view of USDJPY.
note the divergence.
it seems that correction is about to end.
note the divergence.
it seems that correction is about to end.
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1H view :
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1 H view:
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price broke the lower channel to downside. still we have divergence on 4hr; we have to wait until it make a clear pattern.
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This seems to be end of correction which ends with an ending triangle. this is a type of complex correction. so I'm waiting for a correction and long opportunities.
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updated labeling. UJ went one more down wave.
as you know corrective structures are very complex and as it develops we have to analyze and label it again...
as you know corrective structures are very complex and as it develops we have to analyze and label it again...
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ready to go...
it seems that now we are at last steps of C wave of flat and wave to upside starts soon.
it seems that now we are at last steps of C wave of flat and wave to upside starts soon.
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price is in the triangular phase.
structurally it can breaks to both directions.
Now, I prefer the short setup because of the divergence, but I'm on long (buy) side for long term direction.
Although I prefer short setup, I would enter long if it breaks to upside, maybe because of today's FOMC meeting (fundamental news), but i will move my stop to break even as soon as possible.
structurally it can breaks to both directions.
Now, I prefer the short setup because of the divergence, but I'm on long (buy) side for long term direction.
Although I prefer short setup, I would enter long if it breaks to upside, maybe because of today's FOMC meeting (fundamental news), but i will move my stop to break even as soon as possible.
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the structure developed like a correction and didn't break the upper trend line and reversed; so i anticipate there is still one more wave to downside to complete the structure
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these are probable moves, I have different strategies for every one of them.
now its not obvious which one is going to form, but i prefer those three correction rather than yellow impulsive one because the first wave which is shown in above chart is more likely a correction.
now its not obvious which one is going to form, but i prefer those three correction rather than yellow impulsive one because the first wave which is shown in above chart is more likely a correction.
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