USD/JPY: wave analysis
14 January 2019, 08:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 108.08 |
| Take Profit | 113.66, 114.50 |
| Stop Loss | 104.46 |
| Key Levels | 103.00, 104.46, 113.66, 114.50 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 104.40 |
| Take Profit | 103.00 |
| Stop Loss | 105.00 |
| Key Levels | 103.00, 104.46, 113.66, 114.50 |
The pair may grow.
On the 4-hour chart, a downward correction of the higher level developed as the wave 2 of (C). Now the formation of the wave 3 of (C) has begun, within which the first wave of the lower level (i) of i of 3 has formed, and a correction is ending as the wave (ii) of i. If the assumption is correct, after the end of the correction the pair will grow to the levels of 113.66–114.50. In this scenario, critical stop loss level is 104.46.
Main scenario
Long positions will become relevant during the correction, above the level of 104.46 with the targets at 113.66–114.50. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 104.46 will let the pair go down to the level of 103.00 and below.
On the 4-hour chart, a downward correction of the higher level developed as the wave 2 of (C). Now the formation of the wave 3 of (C) has begun, within which the first wave of the lower level (i) of i of 3 has formed, and a correction is ending as the wave (ii) of i. If the assumption is correct, after the end of the correction the pair will grow to the levels of 113.66–114.50. In this scenario, critical stop loss level is 104.46.
Main scenario
Long positions will become relevant during the correction, above the level of 104.46 with the targets at 113.66–114.50. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 104.46 will let the pair go down to the level of 103.00 and below.
No comments:
Write comments