peterdcharlebois

AUDJPY "POTENTIAL" clasic wave 4 formation

FX_IDC:AUDJPY   Australian Dollar/Japanese Yen
Here is a the potential classic wave 4 formation. This should thrust down out of the triangle and then bottom and reverse if the assessment is correct. In a classic triangle, each subsequent wave should not exceed the path of the previous wave. and the triangle itself should not at anytime exceed the previous wave 5 termination. There are numerous other triangle-like formations possible however this is the most common one to appear in the wave 4 position.
Comment: Well... that pattern was not a developing triangle... Next
Comment: This wave did not act as a classic triangle but represents a possible wave 4 non the less. But I still missed it.
Comment: This played out as a wave 4 - Just not a classic shape. Moved sharply down and now appears to have bottomed temporarily
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