Hello -- I'm new to trading and chart analysis. Please let me know what you think of my projection of the USDJPY pair! I am still learning and currently “paper trading” so any comments or suggestions are very welcome.
A bearish Elliott 5-wave pattern has ended and we are currently in an A-B-C correction. If price reaches the 108.0 area a LONG position should be taken.
TP 1: 109.4 (origin of "B" wave)
TP 2: 111.0 (try to reach the end of “C” wave)
SL: 107.3 (around support/resistance area – not really sure this is the best place, though)
A bearish Elliott 5-wave pattern has ended and we are currently in an A-B-C correction. If price reaches the 108.0 area a LONG position should be taken.
TP 1: 109.4 (origin of "B" wave)
TP 2: 111.0 (try to reach the end of “C” wave)
SL: 107.3 (around support/resistance area – not really sure this is the best place, though)