There are some incredibly tasty trading opportunities on USDJPY
this week. I've combined my ideas of the flag breakout
with my basic knowledge of Elliott Wave
Theory, which give me a bearish
sentiment for this week. Additionally, we have just broken through the neckline of the head&shoulders pattern and have just retraced to test it. My stop loss is tight above the neckline and above a .628 retracement of price. If price breaks above 111.720 then my Elliott
ideas have been counted wrong, which would also invalidated the trade. We also have the trend on our side, which should help the price down.
Please give me feedback since this is my first time counting Elliott