Theme images by MichaelJay. Powered by Blogger.

USD/JPY: upward momentum maintains 20 September 2019, 14:15

USD/JPY: upward momentum maintains 20 September 2019, 14:15 Scenario Timeframe Weekly Recommendation BUY Entry Point 1...

Sep 11, 2019

JP Morgan Chase Co.: wave analysis 11 September 2019, 09:42


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 116.76
Take Profit 119.40, 123.50
Stop Loss 114.75
Key Levels 97.79, 103.90, 103.90, 119.40, 123.50
Alternative scenario
Recommendation SELL STOP
Entry Point 109.90
Take Profit 103.90, 97.79
Stop Loss 111.90
Key Levels 97.79, 103.90, 103.90, 119.40, 123.50
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops, within which the wave v of 5 of the lower level forms. Now, the third wave (iii) of v is developing. If the assumption is correct, the price will grow to the levels of 119.40–123.50. In this scenario, critical stop loss level is 109.98.


Main scenario
Long positions will become relevant during the correction, above the level of 109.98 with the targets at 119.40–123.50. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 109.98 will let the price go down to the levels of 103.90–97.79.

No comments:
Write comments


If you are interested or have any questions - Contact us!