In the previous post we anticipate the trading signal for a possible 500 pips bullish rally in Euro Yen pair to complete its 5th wave (1 Day timeframe), yet I warned that it might have 2 scenarios. We apparently run in to the second scenario. Read it again to be aware of the situation:
https://trading-price-action.blogspot.co.id/2017/03/forex-trading-signal-eurjpy-projected.html
Obviously, this 5th wave is just the 1st wave in the smaller timeframe (4 Hour), which has just completing its 5th wave in even smaller timeframe (1 Hour). I was convinced that there will be a sufficient pullback move to be trade: a signal for probably 100 - 170 pips pullback to at least 0.50 or 0.61 fibonacci retracement level.
I did take the short after the bullish momentum appear on the bearish flag (15 Minutes timeframe), but I exit at the lower channel for 40 pips since it is already lae in my timezone.
The full analysis is here:
http://www.fxmags.com/trading-signal-possible-170-pips-pulback-eurjpy/
