Zig Zag before going long?

The Dollar Yen pair are currently in a corrective phase after the long impulse up to these levels.
As we know corrections can be quite complex and difficult to work out.
In this case I think we are looking at a zig zag ABC correction which is incomplete.
Zig zags are usually deep and sharp so I can see this moving further down before it's complete.
The arrows are there to show possible direction only.

Do not try and trade from this chart - you need to zoom in and look for buy or sell entries as price moves.

Essentially my medium term forecast is long once this correction is complete

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Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

評論:

The move up wasn't as long as expected but we seem to now have the short move to end the correction. Once complete we'll be looking for a long entry

評論: