USDJPY has completed a well-formed Gartley Pattern at our price target range.
UPDATE: 11:30 AM
Lots of movement, another deep retrace — not much to show for it. Whatever the wave count, we’ve seen a second lower low/lower high since the .886 reversal we noted yesterday. Despite the whipsawing, yesterday’s forecast for the bottom of this corrective wave is still my leading candidate.
I’m looking for 1754-1755 around 12-1am EST tonight. It’s the midline of the biggest falling white corrective channel, and the bottom of the rising red channel — not to mention the target of the H&S Pattern currently setting up.
Note that it’s also the .500 of the 1774 – 1736 drop from Nov 7. Keep an eye on the yellow neckline around 1762.
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