Hello friends
In the USDJPY currency pair, we see a completed 5 wave.
We call it wave A or 1.
An ascending channel that has modified these 5 waves has been formed and we call it wave 2 or b.
Now, in both cases, whether we consider 5 wave impulse or corrective zigzag, in both theories we need another wave in the dominant wave 3 or C to complete the pattern.
Now, with this information, a SELL trade can be planned.
Because the trend line at the bottom of the channel has been broken and a pullback has been added to it, and the wave counter confirms it, you can enter the sell trade with a stop loss around 158 and a take profit around 152.
In the USDJPY currency pair, we see a completed 5 wave.
We call it wave A or 1.
An ascending channel that has modified these 5 waves has been formed and we call it wave 2 or b.
Now, in both cases, whether we consider 5 wave impulse or corrective zigzag, in both theories we need another wave in the dominant wave 3 or C to complete the pattern.
Now, with this information, a SELL trade can be planned.
Because the trend line at the bottom of the channel has been broken and a pullback has been added to it, and the wave counter confirms it, you can enter the sell trade with a stop loss around 158 and a take profit around 152.