This is a clear channel movement inside the big yellow channel where UJ has finished a 3 waves movement.
If there is another 2 waves left, I would prefer to anticipate it move like yellow ABCDE, which makes C-D-E as a bottom consolidation.
Obviously, UJ finished another small 3 waves in the last purple channel and now you can see a RSI DIV at the bottom.
This is a safe trip if you long UJ from 112 around to 112.6 for 60 pips.
This whole pic could be a CYPHER for UJ too, which I don't usually show in my chart as I believe channel strategic with fibo seems more predictable and effective to me.
Finally, here are the plans:
A. long trade EN:112 SL:111.5 TP:112.6 R/R:1.2:1
If you want to hold it till CYPHER D, better wait a double test of 112.
B. short trade EN:112.6 SL:113 TP:111.5 R/R:2.25:1
Less is more!
Operación activa
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long trade EN: 112
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Descending channel broke and one green bar to confirm the bull turn over.
Operación cerrada: objetivo alcanzado
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to1
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even thought tgt1 achieved, there is no signals out and short trade in. so we would just hold it for a while to see if wave 3 can make UJ higher.