In the 1 hour chart:
-The price moved to Fibonacci 0.618 to form a wave 1
-The wave 1 retraces back to Fib. 0.786 to give us the wave 2 formation
-The price rallied to Fib. 0(which is price 112.086) to form the wave 3.
- The price move sideways to form an extended fourth wave(wave 4); which finds support at Fib. 0.786.
Just as wave 2 gave us a sharp movement we expected wave 4 to give us a sideways movement which it did. We expecting price to go bullishly to complete the last impulse wave ( wave 5 )
You can also visit my page for a previous analysis on the USDJPY on a 15min. time-frame for more insight.
-The price moved to Fibonacci 0.618 to form a wave 1
-The wave 1 retraces back to Fib. 0.786 to give us the wave 2 formation
-The price rallied to Fib. 0(which is price 112.086) to form the wave 3.
- The price move sideways to form an extended fourth wave(wave 4); which finds support at Fib. 0.786.
Just as wave 2 gave us a sharp movement we expected wave 4 to give us a sideways movement which it did. We expecting price to go bullishly to complete the last impulse wave ( wave 5 )
You can also visit my page for a previous analysis on the USDJPY on a 15min. time-frame for more insight.
Comment:
Heading For the Crown..
Comment:
3/15/2019: Ahh... Hello traders... we about ending the week in a bullish shot... Hope you all made some nice profit from this trade.
We like you all to stick around for the next analysis on this pair.
We like you all to stick around for the next analysis on this pair.
Related Ideas
Bullish move.
Billion_Pips
about USDJPY