AUDJPY- Monthly Triangle- This is how it can move till 102-104
Updated
(( )) - Means circled wave
Since Late 2001 lows56 it has been moving sideways & 15 years have gone by in the range of 50 on lower side & upper side 109-110. It has traced a triangle & internally having 3 waves, each for circled waves.
Travelling in the final leg, which is ((E)) - wave which can travel in the zone 102-104 where it completes 61.8% of ((C))-Wave
Trading Strategy
Once Swing Low 72.40 is taken out- It will start moving down. I shall continue this post for short term opportunities.
Since Late 2001 lows56 it has been moving sideways & 15 years have gone by in the range of 50 on lower side & upper side 109-110. It has traced a triangle & internally having 3 waves, each for circled waves.
Travelling in the final leg, which is ((E)) - wave which can travel in the zone 102-104 where it completes 61.8% of ((C))-Wave
Trading Strategy
Once Swing Low 72.40 is taken out- It will start moving down. I shall continue this post for short term opportunities.
Trade active
13:18 Hrs 22nd Dec2016Last Price@85.09
Current Pullback could be seen in the zone 83.50-83.60 - a 38.2% retrace below 84.88 & under 83 -can extend till 80.90-81.10 where it retraces 61.8% of the current rise. Later rise could be seen in the zone 90.75-91
Trade active
21:55 Hrs 27th Dec2016Last Price@84.48
Went closer to the target zone 83.50-83.60
Trade active
22:50 Hrs 27th Dec2016Last Price@84. 50
Still waiting for 83.40-83.50 target zone -holding below or under 84.50- likely it travels atleast 83.40-83.50 & below 83 marks can extend to 80.90-81.10 zone.
Trade active
14:10 Hrs 29th Dec2016Last Price@83.97
Recent Low@83.74 -Close target zone 83.50-83.60
Trade active
12:30 Hrs 6th Jan2017Last Price@85.03
Crossing above 85.50 & sustaining above that level - we will conclude that wave-((ii)) - a double bottom is in place at 84.55 which was a close 61.8% retracement of wave-((i)) high at 85.71 from 83.74 bottoms ending wave-4 & now moving in wave-5.
Next above 85.50- shall be looking for wave-((iii)) in wave-5 which travels 161.8% at 87.75
Trade active
10:43 Hrs 10th Jan2016Recent High@85.90's
It could be ((i)) -a-b-c --((ii)) or ((i))-((ii))-1-2 if 84.86 holds or goes close to 84.50-84.60 zone then next upside will start
Trade active
23:02 Hrs 18th Jan2017Last price@85.55
Against 85.00-- Double Bottom we look AUDJPY positive going beyond 86.26 it will confirm & heads next for 88.50 where it travels 161.8% -still looking for an upside explosive move protecting 85.00 lows downside.
Trade active
06:51 Hrs 19thJan2017Last Price@86.05
Heading close to prior swing high@86.28
Trade active
17:45 Hrs 19th Jan2017Last Price@86.65
At 87.15 it travels same distance as wave-(i) if holds, then exit or sustained move above 87.15 shall take next to 88.50 where it travels 161.8% of wave-(i) shown below
Trade active
14:55 Hrs 20th Jan2017Last Price@86.60
Wow!!! - 87.07 was the high & turns down -current trading at 86.60-- Its amazing- Likely will should retrace the current rally from 85 to 87.07 by 61.8% before it resumes uptrend again
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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