Whether we're in an X wave or finishing a ABCDE pattern either ways price SHOULD move upwards.
Will put a buy stop order and move to breakeven once in decent profit
I'm expecting price to bounce off the trendlind and make one more downward movement before shooting up and breaking the trend line.
If price bounces off trendline and consolidates, it would be a good and sure short term sell, followed by a good and sure long term buy.
- Price touched 61.8% fibonacci retracement level (it's amazing how fibs work)
- If price breaks trendline towards the downside I will sell it with a T/P level at the 127% fib level and a S/L just above the 61.8% fib level
- Invalid if prices go past the 61.8% fib level
Good luck
AUDJPY finished its corrective structure and I expect it to be breaking out towards the downside because :
1. It has finished its corrective structure
2. It retraced to Fib level 61.8%
T/P at 116.096 - Fib level 127%
S/L at 118.056 - Just above Fib level 61.8%
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If you have any constructive criticism or your own...
For the next couple of weeks I expect the EURUSD pair to either :
1. Create another zigzag before forming another impulse upwards
OR
2. Breakout of it's corrective structure and immediately form an impulse upwards
Scenario 1 is more likely in correspondence with the divergence (as labelled in pink)
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If you have...
Expecting a huge correction upwards for the CADJPY pair because of these reasons :
- Completion of 5-wave structure
- 5th wave is around the 127% Fib level
- Divergence
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If you have any constructive criticism or your own idea, do comment and share below
NOTE : This is just my viewpoint of the chart please do not...
Good afternoon Traders! This is one of the possibilities that the price of GBPAUD will move in the next couple of days.
Will observe till the corrective structure starts to form before putting a sell stop order
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If you have any constructive criticism or your own idea, do comment and share below
Trade with care, good luck!
