Fxprotrader
Long

AUDJPY: End Of Correction Shows Long Setup

FX:AUDJPY   Australian Dollar/Japanese Yen
718 3 29
Price has broken above a three wave correction, after an impulsive upmove. We should wait for a buy setup to complete ideally after price consolidates above the broken level.
in NZDJPY with an almost exact pattern u are planning to SHORT right? thanks for sharing all your ideas
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Well, it looks like the same but in my view it isn't.. In this pair it's clear that we had a three wave correction before price breaking above it. In NZDJPY i believe we are in the middle of a larger correction, and we might have anothe wave to the down. Besides that, no matter the analysis, we need a solid setup in order to jump in the market. Anyway this is my view.. Thanks for sharing..!
+1 Reply
Agree. I'm on buy after this H1 consolidation breakout :
snapshot

Let's see how this goes.
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