USDJPY - Short towards 1.10 - minimum R/R 1 : 2

31 Eki 2018

Price is in a triangle for those last 2 years and is now in the last wave E as can be seen in this screenshot.
After a nice fall, price now retraced enough so that a short position can be opened with confidence.

Entry : 1.132
Stop : wave D high.
Target 1 : 110
Target 2 : 108



PS : See my previous post for the higher timeframe view.

PPS : Don't hesitate to comment, like and share :)

31 Eki 2018

Not

If you want a tighter stop, here is one you could consider.

6 Kas 2018

Not

Wave C finished (?) just now it seems. Divergence confirms this.

Therefore,
Entry : on channel break preferably
Target : 110 to 108 as said before.
Stop : above C @ 113.46
R/R Ratio : > 1:5 !!!

If you are already shorting, consider moving your Stop above wave C.