USDJPY breaks inverted head and shoulders ,elliot 5 wave
Week 4/15-4/20:
On the daily there is descending elliott 5 wave reversal to an ascending elliott 5 wave which is on its 3rd leg currently
Also broke (200+pip from head to neck), inverted head & shoulders neckline and significant 107 -107.25 daily S/R area
Retesting 107.25 -107 area
SL 106.55(45-70 pips) TP 109(175 -200pips) looking to take profit 107.90-108.40 (90-140 pips ) @61.8 before pullback (end of 3rd leg start of 4th) 2 entries. 1st at market open-107.25- to suppress fomo & 2nd at confirmation either above or below 107.25 which will be around Tuesday or Wednesday. Risking 2.5% per trade.
will be looking for price action entry on the 4H timeframe within this area.
ALL feed back encouraged
On the daily there is descending elliott 5 wave reversal to an ascending elliott 5 wave which is on its 3rd leg currently
Also broke (200+pip from head to neck), inverted head & shoulders neckline and significant 107 -107.25 daily S/R area
Retesting 107.25 -107 area
SL 106.55(45-70 pips) TP 109(175 -200pips) looking to take profit 107.90-108.40 (90-140 pips ) @61.8 before pullback (end of 3rd leg start of 4th) 2 entries. 1st at market open-107.25- to suppress fomo & 2nd at confirmation either above or below 107.25 which will be around Tuesday or Wednesday. Risking 2.5% per trade.
will be looking for price action entry on the 4H timeframe within this area.
ALL feed back encouraged