anilmangal

AUDJPY The power of understanding the wave patterns

FX:AUDJPY   Australian Dollar/Japanese Yen
5737 10 171
Hello Traders, I have been following this pair for long time as you can see from the three past post pinned here.
Wave patterns are very complex , it's not about the lines we put on the charts ,it's not as simple a just selling or buying because a line you put was broken . Most of those lines get broken when a pattern is completed and we see a reversal.
This structure is in a z wave which could possible make one more wave down but that would complete the pattern and reverse.
Trade with care, use a strategy you have tested your self. Remember anything you put on the chart is just to help you analyze the chart structure and not to stop the structure from doing what it will do . So next time you hear someone says , the 200 SMA will hold it or it has to bounce of the support or resistance ,you be very careful......
I will post the trade setup on lower time frame. If you want instant notification when i post please follow me .

Thank for your support.
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Training : add to skype mangal457
Spot on Man !
+1 Reply
thanks i agree i believe that the pair will make one more down wave
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Thanks for sharing Anil.
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Thank you very much!
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Thank you for sharing. I have to start studying Elliot wave so that I can take a course with you after a while.
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Hi Anil,
Nice and Clean.
I share a similar wave count, however I am looking for a sell from the upper trend line. Below is my wave count.

snapshot
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Thanks for this, amazing...
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prefer to see another low first
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The low appeared. This is one of my favourite setups right now, and I think in the next 4 to 12 weeks it could make a bottom to complete Z, in my opinion with one more low from where it is now
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Hi anil, any update on lower time frame from this pair? H1/H4 maybe?

also I noticed that from other chart related with AUD (GBPAUD, EURAUD, AUDUSD), seems that the expectation, AUD will weaken in near future.
what do you think? can we take that conclusion at the moment? (unless the structure changed).

thanks for all your great ideas, and awesome explanation, anil!
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