Waiting for it to break 84.477. Will then look for my sell setup. This sideway move that contains 5 waves is the 4th wave of the C wave. Therefore, I'm looking for that last impulse (5th) to the downside. Targeting 127 minimum / 161.80 maximum.
Note
Very nice. Broke the top slightly. Creating a sell setup. Note
Just made a sligt break. Completing a C wave. Downfall imminent? Lets look at the three pairs. AUDJPY: USDJPY:
AUDUSD: tradingview.com/x/OeqX1hkR/, Quite clear that it is about to break down. So USDJPY strength and AUDUSD weakness. Time will tell. Entry short set.
Trade active
Note
Another way to look at it which argues for my side of the trade. AUDUSD just breaks down. It has completed a full ABC, A 5 waves, B 3 waves and C 5 waves again Note
stop at BE.Trade active
Note
Note
Second one stop at BE.Trade closed manually
Closed one manually, BE on the other. Note
One more thing. Rumours going on about trump placing tariffs on China (Friday). That would be a double whammy for this pair. Yen strength and Aussie weakness as argued on the previous chart. But perhaps this will be the motivation.Trade active
Note
BE. Uncertain in my prediction due to Australia employment numbers later on . Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.