opportunity on USD/JPY for swing traders

[fibo_trader]

The Ruskies, Chinks, Persians and others in that camp have started their hullabaloo again - as usual - claiming that the time has come for the US dollar to be retired. They are saying this after watching some currencies beating the dollar lately but what they don't get is that the Dollar is only correcting = normal, healthy defecation Soon they will be making more noise when the Dollar corrects against the Yen in USDJPY above, see my chart.

But what they don't know is: that (1) upwave in USDJPY looks like an Impulse Wave. This means that even though Warren Buffet knows nothing about Waves, but he does know about the big swing ............. that when USDJPY corrects to complete my expected Wave (2) as shown in chart above, then Fibo will really take the big swing for WAVE 3 up ............ the swing will be soooooo big as to be a shocker to any investor to know that I can risk sooooooooooooooo much in one go and break all the rules of RISK.

We wait and see - possibly a few weeks to months for the day to come. Will post the entry right here if still alive

 

[fxstrategist]

A golden cross pattern has formed on the daily USDJPY chart around the 108.63 level, where the 55 day EMA crossed above the 200 day EMA. The golden cross has bullish implications, but the high at the 109.71 level could act as resistance.

 

[fibo_trader]

Continuamos despues de visitar post #16 ............ ..... can it get better? Yeah, dig it, it sure can - it can pour in - with the revelation of the Ending diagonal Triangle .......... seeeeee below

hahahahahaha, even though massive profits, Fibo is a perfectionist and in this case even though the exit shown above was justified with the trendline break, Fibo should have left the door open for the vibration - the ending diagonal Triangle that USDJPY then delivered AFTER my exit. Very vvery tricky, fooled Fibo. See the triangle in gold sloping up? Let's wait and see if it plays out and confirms my thinking.

So now it is clear that all the buggering around that USDJPY was doing was basically just completing Wave (1) up. If this is correct then we should correct in Wave (2) to the marked place on the chart.

Wave (1) is in its last stages of completion, might have one more small thrust up to the triangle line.

If correct, then the zippdy doo dah correction for Wave (2) down will begin.


We wait and see ........................ God, do I love it so!!!!!!!!!!!!!!! The language of Price is stellar molasses




View attachment 271924

Its going my way, baby At 23.6% retracement. Follow along on 1H and TP at the first sign of trouble. Cannot watch this real time stuff much, life is too short

 

[fxstrategist]

Good rally on the USDJPY from the 108.00 zone to the resistance around the 109.71 level.

 

[fxstrategist]

The volatility on the USDJPY has increased with the coronavirus scare. The pair rallies above the 109.00 level, but it may find a resistance zone around the 110.00 level.

 

[fxstrategist]

Very good rally on the USDJPY to the 110.00 level, which could act as resistance. In case of continuing higher, its next resistance could be the 111.00 zone.

 

[fxstrategist]

The USDJPY finds a good resistance level around the 110.00 level, but the most frequent the price touches that level, the higher the probabilities of a breakout.

 

[fxstrategist]

The USDJPY finds a good resistance at the 110.00 zone where it consolidates for a couple of weeks. Above that level, the 111.00 level could act as resistance. To the downside, the 109.00 level could act as support.