USD/JPY: Triangle forming?

Took a short from 110.13 to possibly catch a C wave of zigzag ABC based on a possible AB=CD pattern...

Could still get it but down move stalled and I like to keep my options open, possible triangle formation is another option...

Therefor open short shift SL to BE and wait to see what develops...

Best long entry at either c or e of the triangle (if it develops into one...), or simply trade the breakout of the consolidation (red arrow)...

For now I wait...

Yorum:

I think it's safe to say we won't be getting the zigzag now...

Trendline also broke to the upside, triangle might therefor also get invalidated, a little soon to say but looks that way since the last move went straight up.

Smaller degree correction above the trendline will give us a buy opportunity, we'll see what happens on monday...

Yorum:

Sorry, wrong link...:

Emir iptal:

False bullish breakout..., all bets are off for now...