The analysis shows off that the long term bear trend of USDJPY may have come to an end on this bottom and the reversal time is now triggering.
We may have finished the first wave impulse of this new bullish trend. So we are now retracing to find point 'b'.
This subwave is in-trend and can be bought with low risk. Of course as we're consolidating... wave 'b' can be sold in counter trend.
Which means that buyers need to exit under resistance and can't hold their trades too long...
This analysis suggests that in order to hold longs for long term, this would need to wait for subwave 'c' to be reached.
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
We may have finished the first wave impulse of this new bullish trend. So we are now retracing to find point 'b'.
This subwave is in-trend and can be bought with low risk. Of course as we're consolidating... wave 'b' can be sold in counter trend.
Which means that buyers need to exit under resistance and can't hold their trades too long...
This analysis suggests that in order to hold longs for long term, this would need to wait for subwave 'c' to be reached.
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
To learn more about the PRO Strategy and request a trial for the indicators:
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
To learn more about the PRO Strategy and request a trial for the indicators:
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
Website : pro-indicators.com
Discord : discord.gg/Agdf5rt
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.