Looks like a 12345 up is complete, and into a resistance zone. Expected either an ABC correction, or a full blown 12345 impulse down (which could be the A of a bigger ABC) Watching for now, waiting for signs of Yen strength or Dollar weakness
Always risky to trade against the trend and the trend has been strong.....
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Currently watching for break below new daily pivot, retest and rejection for possible signal
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Revisiting Daily Pivot. Waiting for break and retest
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Pivot broken, waiting to watch behavior now.
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Entered short while phone in grocery store :) I think this first impluse down will end at 110, and bounce. Will watch the bounce to decide to get out with profit or to ride for bigger target.
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Should be pretty close to making the final leg down of this micro impulse.
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This wave 4 (if that is what it is) has me nervous
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I think my microscopic wave count may have been wrong. maybe w5 done and in ABC now?
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Trailing stop hit. Got some profit anyway. Until next time UJ !!! I will get you yet :(
@some_guy, wow, nice find! I need to get back to using trendlines more, had lost faith in them a while ago....
some_guy
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@euromotives, i spent lots of hours trying to understand UJ. Shapes it's held since back in the 90s. There's a (light) summary of it here, maybe youll find it useful :)
Im sure you've noticed this, zoomed way out?