Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Simplified Wave Analysis. USD / JPY review for the week of November 5

November 5, 2018 Analytics

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Wave pattern graphics H 4:

On the beginning of June 19, in the daytime wave, this section has become a correction (B).

Wave pattern graphics H1:

Wave design from October 3 forms a downward zigzag. The wave lacks the final part (C).

analytics5bdfe2de3b4b1.jpg

Wave pattern graphics M15:

The rising wave of October 26 completes the larger bullish pattern, which has formed the “expanding triangle” figure on the chart.

analytics5bdfe2eb27a1f.jpg

Recommended trading strategy:

The price for the decline in the near future. For the completion of the current waveform.

Resistance zones:

– 113.30 / 113.80

Support areas:

– 110.70 / 110.20

Explanations to the figures: The simplified waveform analysis (A – B – C). For the analysis, the main TFs are used. Zones show calculated areas with the highest probability of reversal.

The arrows indicate the number of wave markings used by the author. The solid background shows the formed structure.

Note: The wave algorithm doesn’t take into account the duration of tool movements over time. To trade a trade transaction, you need to confirm your trading systems!

The material has been provided by InstaForex Company – www.instaforex.com

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