USDJPY Short: Wave 5 Break + Retest (Elliott Wave TCT)

2016년 1월 14일

USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above wave 4 terminus and target at the 1=5 level. This setup yields a R/R of over 5.

Bearish Confluence:

• Trendline break and retest
  
• Pivot resistance
  
• 200EMA Resistance
  
• 200SMA Resistance
  
• Possible wave (i) of 5 completion
  
• Significant .618 fib level at entry
  

2016년 1월 14일

액티브 트레이드

2016년 1월 15일

노트

Moving along nicely. Updated wave count:

2016년 1월 18일

노트

Wave-C-of-(iv) complete: