{"id":43055,"date":"2013-10-15T07:57:12","date_gmt":"2013-10-15T11:57:12","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=43055"},"modified":"2013-10-15T07:57:12","modified_gmt":"2013-10-15T11:57:12","slug":"usdjpy-elliott-wave-analysis-4-month-triangle-near-completion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/10\/15\/usdjpy-elliott-wave-analysis-4-month-triangle-near-completion\/","title":{"rendered":"USDJPY Elliott Wave Analysis: 4-Month Triangle Could Be Near Completion"},"content":{"rendered":"

By Elliott Wave Analysis Service <\/a><\/p>\n

USDJPY is trapped in tight range for around four months now which could be at the end if we consider an Elliott Wave triangle pattern that is pointing higher. The reason is a move in five legs, labeled as A-B-C-D-E, which suggests that pattern is near completion. In fact, we have seen a sharp reversal last week from 61.8% Fibonacci support compared to wave C) distance which is usually a stopping point for E) waves. As such, we suspect that prices will rally in days ahead, this time towards and ideally through 100.50 mark that will put bullish price action in play for a new high of the year on USDJPY.<\/p>\n

USDJPY Daily<\/strong><\/p>\n

\"USDJPY<\/p>\n

Educational Part: Elliott Wave Triangle Pattern<\/b><\/p>\n

A Triangle is a common 5 wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. A Triangle is either contracting or expanding depending on whether the channel lines are converging or expanding. Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3.<\/p>\n

Contracting triangle<\/b><\/p>\n

\"Contracting<\/b><\/p>\n

\u2022 Structure is 3-3-3-3-3
\n\u2022 Each subwave of a triangle is usually a zig-zag
\n\u2022 Wave E must end in the price territory of wave A
\n\u2022 One subwave of a triangle usually has a much more complex structure than others subwaves
\n\u2022 Appears in wave four in an impulse, wave B in an A-B-C, wave X or wave Y in a double threes, wave X or wave Z in a triple threes<\/p>\n

Written by www.ew-forecast.com<\/a> <\/b><\/p>\n

Try EW-Forecast.com’s Services Free For 7 Days >>> Here<\/a><\/b><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Elliott Wave Analysis Service USDJPY is trapped in tight range for around four months now which could be at the end if we consider an Elliott Wave triangle pattern that is pointing higher. The reason is a move in five legs, labeled as A-B-C-D-E, which suggests that pattern is near completion. In fact, we … <\/p>\n

Continue reading “USDJPY Elliott Wave Analysis: 4-Month Triangle Could Be Near Completion”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-43055","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/43055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=43055"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/43055\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=43055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=43055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=43055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}