USDJPY m-term BUY setup (wave analysis) لـ OANDA:USDJPY بواسطة OleksandrSnitko

USDJPY m-term BUY setup (wave analysis)

1st major SELL target is reached - 111.56 (actual price was 111.59) - 38.2% retracement of wave 3(yellow) and 61.8% of wave (1);
My analysis tells that entire correction (bear market) may be already done at 38.2% retracement of 27sep-15dec bull market.
bear market (wave 4) = 61.8% of bull market (wave 3) in time. (yellow)
wave(4) = 38.2% of wave(2) in time. (blue)
wave (5) looks like diagonal.
confirmation of this buy setup will be a breakout of wave's (5) channel.

If this wave count is true, m-term BUY targets are: 116.8, 120, 125.3.
Here is alternative wave count. (wave (3) extantion scenario)

So, wait for mentioned breakout to buy it!
R/R ratio may be 19.
Trade with care!
Good luck!

تم فتح الصفقة

looking good.
wave (5) breakout is done.
wave C structure: trendline connecting (2)-(4) waves is left to be broken.

ملاحظة

uj needs some correction.

ملاحظة

short-term sell opportunity.
targets: 111.93 and 111.64

after wave c is done, buy it.
buy setup is valid if wave c doesnt go beyond 111.59(7 feb bottom)

ملاحظة

here we go

ملاحظة

1st sell target is reached. (112.069)
maybe one more down to 111.775.
look for buy signals.(break of wave c trendline)
sl is 111.58.
buy setup is valid if wave c doesnt go beyond 111.59(7 feb bottom)

تم فتح الصفقة

looks like buy signal
wave c is diagonal (1st wave extention) wave 3 is not the shortest.
divergence is present.

ملاحظة

there is still no major breakout. shame.
uj has reached 111.77 sell target.

buy setup is valid if wave c doesnt go below 111.59(7 feb bottom)

ملاحظة

watch this breakout

تم فتح الصفقة

finally major wave C(yellow) structure is broken.

now uj needs some correction before moving up.
correction may last for 6-10 hours.

ملاحظة

actually correction lasted 12 hour.
it was a running flat.
1st short-term target seems to be reached. 113.2
m-term targets are: 116.8, 120, 125.3.

تم فتح الصفقة

looks like running triangle

ملاحظة

Major s-term target (113.76) is reached.

ملاحظة

possible re-buy point
c = 161.8% a (113.07)
but I think it's better to wait till Monday to re-buy.

ملاحظة

short-term targets is reached. wave 1 = wave 5.
time to fix some profits.
I think uj needs to correct last week bull market [111.56-113.16].
3-5day bear/flat market is expected.

ملاحظة

close look.
last week bull market's trendline is broken
wave A of ABC(green) is forming
abc (purple) inside A is forming.
major SELL target for wave c is 113.32 / minor targets are 113.6 and 112.87

it's my 2nd short trade today.

ملاحظة

wave A(green) objectives is done. trendline is definitely broken.
1st minor sell target is reached (113.6).
so it may turn upside now, but there is still some room to fall. (toward 113.32 target)

ملاحظة

unless price does not go beyond 114.55, it still may go down.
short-term SELL targets are: 113.94, 113.6(major) and 113.05

تم فتح الصفقة

S-term buy targets: 115.47-115.82

ملاحظة

1st minor target [114.84-114.99] is reached.
Pretty sharp correction started.
Disappoints. I didn't fix any uj profits. Just 2/3 of gu shorts.

ملاحظة

114.05 - possible re-buy point

ملاحظة

I don't have a clear view on UJ now.
usd goes crazy today. it breaks my planes.
I'll wait for consolidation to figure out what is going on

ملاحظة

possible scenario

ملاحظة

wave 2(green) may still be in progress
in this case, uj may fall to 113.7

ملاحظة

in case of 2 wave had already been done, this abc is just a minor correction, which target is 112.979.
price currently stuck at this level. so a probability of this scenario is increased.
take into account.

ملاحظة

wave 2 is done on 80-95%. maybe 1-2 little swings down are left
keep an eye on it!
it should give a nice s-term BUY opportunity in near time
s-term buy target would be 114.9

s-term buy setup is valid if price does not moves beyond 113.25

تم فتح الصفقة

ending diagonal is formed and broken.
s-term BUY target is 115.13

ملاحظة

price went beyond local bottom.
s-term buy setup is invalid.

ملاحظة

as I see it now

ملاحظة

price went beyond 14 feb low.
s-term buy setup is wrong.

تم إغلاق الصفقة يدويًا

uj looks very weak now.
it may crash in near term.
entire m-term buy setup might be invalid now.
It think it's better to close m-term longs in this situation.

ملاحظة

uj performs wave (2) - ABC (5-3-5) correction pattern.
100% target is reached.
161.8% target left.
I think it's a good time to look for re-buy point to resume advance toward 120.
If price does not exceed 111.59 m-term buy setup is valid.
watch wave C trendline breakout.

big picture.

تم فتح الصفقة

looks like m-term buy setup is valid.
diagonal was formed on 5th wave.
price didn't go below 111,59 (7 feb bottom)
diagonal trendline was broken. - buy signal.
expanding triangle was formed.

تم فتح الصفقة

112.89 and 113.46 - possible levels where uj may slow down a little bit
I wish uj to be unstoppable this week

تم فتح الصفقة

triangle

ملاحظة

watch breakout

ملاحظة

a=c
price should not move below local bottom(112.25)

ملاحظة

s-term buy signal is invalid

ملاحظة

bigger picture
abc - flat
one swing up, one down, then watch for breakout

تم فتح الصفقة

watch breakout

ملاحظة

m-term buy setup is valid if price does not go below 111.59

ملاحظة

s-term analysis

ملاحظة

looks like running triangle

ملاحظة

buy targets.
aiming 114.88 in short term

ملاحظة

moved sl at 113.72

ملاحظة

تم فتح الصفقة

current look & targets

ملاحظة

m-term targets are: 116.8, 120, 125.3.

ملاحظة

possible re-buy points.

ملاحظة

114.76 target was reached

ملاحظة

possible re-buy point

ملاحظة

possible price action scenario

ملاحظة

as wave 3(yellow) was formed (114.76 target reached), correction is expected
big picture.

ملاحظة

I expect a good sell opportunity today/tomorrow after wave B would be formed.

ملاحظة

short term sell. wave C unfolds.
sell targets: 113.41 and 112.96

تم فتح الصفقة

short term buy targets

medium term buy targets are: 116.8, 120, 125.3.

ملاحظة

I want to inform u that UJ reached short term buy targets before NFP report was released.
so technically it's likely to be corrected in near term to resume upward move latter.
no matter how good NFP report was.

تم حذف الأمر

deep correction scenario.
price went below 6 feb and 28 feb bottoms.
m-term buy idea is closed / cancelled.
it was pretty nice idea. price went up from 111.59 to 115.5. [390 pips]
2 bull markets and one bear market were predicted, while uj m-term buy setup idea was active.
I told that short term buy targets was reached in previous update and I called for correction 14 minuted after NFP report, when price was 115.21.
now uj looks like it perform ABC zigzag correction (wave 4)
sell targets 111.11, 108.41, 107.2(61.8% retracement of 27 sep-15 dec bull market), 104.08

OleksandrSnitko

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