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.
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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

both 94.15 and 94.50/60 are of importance

But the main idea suggest 95.70 will hold and we should see 3 wave correction or 5 wave sell of
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traderWgun traderWgun
sorry here is the main idea
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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.
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