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Waiting for upward iii wave

10 June 2016, USD/JPY

Bears still managed to push the price lower than the local Low, but after that their pressure is ended and the pair began to grow slowly. Perhaps, therefore, the market makes it clear that the formation of the correction in the form of a ii zigzag wave, finally completed and it is time to look closely to long positions. So, I did this part, and opened long position carefully with Stop Loss at current price Low. The upward movement is expected in the framework of iii wave development (upward momentum), so the rapid and long-lasting trend is quite possible to appear. A possible loss in relation to the potential profit is so low, so the deal from the money management point of view is more than justified.Waiting for upward iii wave

Vasiliy Lukin
Analyst of «FreshForex» company
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