Buy trades are still relevant | 12 May 2016
12 May 2016, USD/JPY
We assume that the downward momentum was over having formed the final diagonal triangle repesented by the wave [v].This model precedes a reversal and a strong movement in the direction of reversal.
This is what we are wintessing now: the price has turned around to win the tops in the impulse form. There are no signs that the price will stop and turns to corrections, so the purchases are still relevant.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
