FX:USDJPY   U.S. Dollar / Japanese Yen
After a not so common occurrence of an Elongated variation of triangle within a combination causing it to be Non-limiting and throwing off the sell commencement to reach higher highs, we are almost set to sell down wave-e of the elongated triangle.. Then up into an x-wave which will connect the impulsive move downward...
Trade closed: target reached
Trade active


Nice contracting triangle forming for the cliff fall...
+1 Reply
safhammer Ben-jamine_1111
Still going north
News event might have an impact in an hours time and then again 2 hours later...possibly.
I'll watch with great interest.
Thanks Ben
like so...
gaptraderhq Ben-jamine_1111
@Ben-jamine_1111, Hey Benny, what are your thoughts now on UJ now. I holding a lot shorts. Would love to see 109ish again. Any advice thoughts would be appreciated. Cheers ;o)
Ben-jamine_1111 gaptraderhq
Hey buddy... How I currently see it!..,
Ben-jamine_1111 gaptraderhq
UPDATE... The original idea is still in motion and completing the suggested path.. I know the wave-e of the expanding triangle is now complete and the x-wave is under commencement.. Lots of shorts sweating right here!! This is a strong test of your emotions as many traders have bought on the x-wave and intend to stay long where as this is where the armatures get caught up.. Rem all that is going on here is wave-e is always the longest and most complex section of a elongated triangle so you have to visualize how the original idea fits in with the current path!.. so the pull back is the same pull back marked by the green arrows on the original idea it has just move higher in price due to the extended sideways action...

This is a test.. You could be confident and looking to close a long position from wave-e end /x-wave beginning to x-wave end... or you could be completely thrown off and stay long coz you were originally long and looks like now you may have been correct all along...

Personally anybody not in this trade should steer clear as this is an emotional one for most....
OK TARGET REACHET, BREACHED and COMPLETE... Now looking for pull back creating x-wave scenario... The x-wave should connect an Impulsive move..
X wave taking shape exactly where it was predicted at price level One last phase and target reached.. we can do this easily... ;)
Could also stop at 161.8 (113) or 123.6 113.50 for where I'd buy ^^
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