Short-Term.....Swing Trade (Set-Ups)

[marketwavez]

Usd/Yen
Here's anotrher Wave-count for the YEN ..............
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Price has now pulled back to a 618 % Retracement Line
appears to be stabilizing ........

[ActiveTC]

Does anyone see this probable wave count on GBPUSD.

[marketwavez]

Hello Active

Your chart What time Frame is it ?
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Your software whats the name of it ?
Looks like dynamic traders charts? ......or mtpredictor maybe ?

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[kosai.]

Going with that count I made this chart to show possible resistance levels. Hope this helps Active... if you are trading the count that is...

The 1.0 line is the same distance of his W1 extended the current high of his W2; second line is 1.618 of W1. Above I have a few levels that price may also hit if the trendline breaks before reversing. The red dashed line is where I would place my stop which is around the 61.8% area although I know some will enter here or 76.4%.

The resistance stop level is assuming price makes a fast break above closes below these levels on a higher tf. That would validate the trade IMO for a move to the targets.

Good luck Active.


FxKos

[ActiveTC]

Its mtpredictor yes.

[marketwavez]

Originally Posted by ActiveTC

Its mtpredictor yes.

Do you Use the chart scanner to find setups ? .....

what time frame is your chart that you just posted ?-

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[ActiveTC]

I use my own counts not the scanner this is 30 minutes timeframe

[Pippiper]

Here is my thought on USD/JPY.
Entry would be 123.07 1st target would be around 122.62 Target2 around 121.75.