{lang: 'en-US'} USD/JPY H4 Update + Trading Plan Idea ~ ElliottFxTrader Blog

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Monday, 26 November 2012

USD/JPY H4 Update + Trading Plan Idea

Rationale:
Fibo Time Analysys indicates a nice time window for wave 4 to end ( as shown onTime Analysys chart). As I'm still biased long (we have not finished the upside progression just yet) I will wait for good oportunity to buy USD/JPY.
I have placed three Buy Limit orders (Entry):
-first into Weekly Support Level 1 and 38% Fibo Retracement of wave 3. SL:81.09 TP: above wave 3
-second into 61% Fibo Ret of wave 3 in case of more sudden wave C occured.
-third one is agressive order for a day-scalp @ 81.94 in case wave (c) finished on 23%Fibo Ret. SL:15pips.TP: 82.50

Take care,
Seb



 
 


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