Hello traders, Looks like upward move gonna end up soon. Potential reversal pivots: 0.618 + 1.272BC + AB=CD. around 114.4 Bearish Bat pattern around 115.3 Trade resonsibly. *I expect last one more down wave after that corrective move. Will update with trade profits.
In my opinion, USDJPY finished 4th, and is heading into wave 5. We'st just seen potential breakout of a trendline, looks like consolidation there (potential ABCDE on 1HR chart). I will be looking for buy in the green box area (0.5-0.618 retr of AB + potential inverted H&S completion). TP1 - harmonic Target (1.272 of AB + 0.618retr of wave 4) TP2 - harmonic...
Look for price action on lower time frame, and divergence on 4H chart. Gartley D point on AB=CD completion + 1.618ext of BC. I am looking for stronger reaction there, but keep in mind Bat patter. TP1: 1.0685 TP2: 1.0625 TP3: 1.0580 Trade responsibly.
I will be looking for a sell setup inside red box (0.5retr BC wave + 1.272-1.618ext + AB=CD completion). Bearish divergence on 1D chart. Full moon coming very soon. I expect short-midterm trend reversal. TP1: 1196 TP2: 1177 TP3: 1160 Trade responsibly.