Fxprotrader
Short

AUDJPY@ Bearish AB=CD Completion in Key Resistance

FX:AUDJPY   Australian Dollar/Japanese Yen
Watching AUDJPY             closely we can see that price is testing a key resistance level where a bearish AB=CD pattern has been completed. Actually its waves represent the correction pattern abc             of a 5 elliott wave cycle (circled numbers).

In addition we can see that at the same level we have an ABCDE corrective pattern completion (wave 4) of a larger 5-3 elliott wave cycle. Having that in mind we should see a final move to the down in order to have our 5th last wave. Our AB=CD pattern could trigger the beggining of that move.

Like and comment,
John
Hey mate; I more or less agree with you albeit I dont think you can count the ABCDE pattern above as your A-B leg is within your 5 count between the 2-3.

Aside from that, I also would like to mate note of the Alternative Bat pattern to help support your your AB=CD formation

snapshot
Reply
Fxprotrader izogawa_trading
Thank you for your chart..!
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out