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Situation is more knotty

Situation is more knotty | 10 March 2016

10 March 2016, USD/JPY

Dollar has strengthened from the last trading day.

And if this growth means nothing it is possible to spend time before further impulse decrease.

Now chart of price movement is very similar to horizontal triangle after which we are expecting prompt but quick impulse decrease.

But horizontal triangles formed into forth impulse waves or as waves b and x (xx) in correction models. Our situation doesn’t match to any one of this. So it is a big possibility that the marking would be changed.

When there is no confirm of development of horizontal triangle this possibility is actual.

Trading in this situation is not recommended.

Situation is more knotty.

Vasiliy Lukin
FreshForex Analyst
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