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glennmercer

USDJPY Long: Ending Diagonal in Watch Zone

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
glennmercer Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY Elliott Wave EW wavetheory waves glennmercer gmercerfx wavecount
24
10
usdjpy elliottwaves ew wavetheory waves glennmercer gmercerfx wavecount
Is the ending diagonal complete? I have reason to believe so, based on the pop we just saw off of the bottom parallel. A drop below this level would require a recount. Therefor, stop is placed tightly below. Two targets stand on the chart. One is placed at ((a))=((c)) in a potential zig-zag. Another is placed at the completion of a potential bat pattern. There are many targets further up, but we'll focus on these two for now. Happy trading!
Trade active
Comment:
Great bounce! Moving my stop to break even and letting it run. Good luck all
Comment:
Trade closed manually:
Breakeven on this trade, +0 pips. I still like a long position, though. I'll be looking for re-entry

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