USD/JPY
Timeframe: 2H
Strategy: Elliott Wave + Triangle Pattern + Fair Value Gap (FvG)
Formation: Contracting Triangle – Wave (a) to (e)
Risk-Reward: High Conviction Setup
Status: On the verge of breakout
🔍 Technical Breakdown:
The chart shows a classic contracting triangle pattern with completed internal waves (a)-(b)-(c)-(d)-(e).
Price is reacting near wave (e), signaling a potential bullish breakout.
A clean Fair Value Gap (FvG) zone lies just below current price — possible last dip before the breakout surge.
Target zone = 148.874, derived from the triangle's height projected from breakout point.
Strong confluence with liquidity hunt below before expansion move.
🎯 Target: 148.874
🛑 Stop Loss: Below 142.738 (SI Level / structural low)
🟢 Entry Trigger: Breakout above trendline + retest confirmation or Smart Money entry at FvG
This setup aligns with Elliott Wave triangle theory, often seen before sharp impulse waves. Smart Money is likely filling orders in the FvG zone before the upward expansion.
Timeframe: 2H
Strategy: Elliott Wave + Triangle Pattern + Fair Value Gap (FvG)
Formation: Contracting Triangle – Wave (a) to (e)
Risk-Reward: High Conviction Setup
Status: On the verge of breakout
🔍 Technical Breakdown:
The chart shows a classic contracting triangle pattern with completed internal waves (a)-(b)-(c)-(d)-(e).
Price is reacting near wave (e), signaling a potential bullish breakout.
A clean Fair Value Gap (FvG) zone lies just below current price — possible last dip before the breakout surge.
Target zone = 148.874, derived from the triangle's height projected from breakout point.
Strong confluence with liquidity hunt below before expansion move.
🎯 Target: 148.874
🛑 Stop Loss: Below 142.738 (SI Level / structural low)
🟢 Entry Trigger: Breakout above trendline + retest confirmation or Smart Money entry at FvG
This setup aligns with Elliott Wave triangle theory, often seen before sharp impulse waves. Smart Money is likely filling orders in the FvG zone before the upward expansion.
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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.
Related publications
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.