traderWgun
Short

Divergence singling end of correction

FX:AUDJPY   Australian Dollar/Japanese Yen
151 4 0
We have now corrected in 3 waves after 5 waves up
and should now see price turn lower.
Nice study. Waves C are usually 5-legged, so it might like to bounce off of the multipivot line at 94.500 before it goes down. However, to me - it is still to soon to be bearish, I want to see, how it responds to 94.5.
snapshot
Reply
traderWgun ForceFollower
Thx for the feedback, C could extend to 94.50 but this C wave dosn't look like a 5 waves, the most usual thing about an a-b-c correction is that a=c and b retraces more than 50% of a-
counts depands on how you choose to see them
snapshot


both 94.15 and 94.50/60 are of importance
snapshot


But the main idea suggest 95.70 will hold and we should see 3 wave correction or 5 wave sell of
snapshot
Reply
traderWgun traderWgun
sorry here is the main idea
snapshot
Reply
motleifaul ForceFollower
I agree with you, ForceFollower. We are trading in arelatively tight daily range(70bp) with a currently slight upward move.
I would rather wait for a clearer picture. But I ain't a 4-h-trader. So perhaps traderWgun has a better feeling for the chance there. Taking into account my daily approach I would support ForceFollowers view.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out