AUDJPY Long opportunity to look out for in next week
- we are wave B in weekly moving upward;
- in daily we are in wave C of weekly B wave. In daily A & B of weekly B seems to have ended and C started.
-Within wave C wave i and wave ii seem to have ended in 4 hours period and wave iii seems to have started.
- Within wave iii of 4 hours time frame, wave i of wave iii seems to be finishing (as we are in wave v of wave this wave i). This will be followed by wave ii of iii in hourly timeframe. Wait for wave ii in hourly timeframe to end and then enter long in wave iii of iii.
- probable retest of resistance around 81.9 level will happen near the end of wave ii of iii. After that the prices will go up in wave iii of iii.
- Enter long above the wave iv of wave c of wave ii, preferably above 82.1, keep the SL a few pips below the bottom of wave ii
Entry point: Around 82.4 (in wave iii when prices start to move up after wave ii)
SL: below the bottom of wave ii (probably around 81.8)
TP1: 83.5
TP2: 84.2
TP3: 86.8
- in daily we are in wave C of weekly B wave. In daily A & B of weekly B seems to have ended and C started.
-Within wave C wave i and wave ii seem to have ended in 4 hours period and wave iii seems to have started.
- Within wave iii of 4 hours time frame, wave i of wave iii seems to be finishing (as we are in wave v of wave this wave i). This will be followed by wave ii of iii in hourly timeframe. Wait for wave ii in hourly timeframe to end and then enter long in wave iii of iii.
- probable retest of resistance around 81.9 level will happen near the end of wave ii of iii. After that the prices will go up in wave iii of iii.
- Enter long above the wave iv of wave c of wave ii, preferably above 82.1, keep the SL a few pips below the bottom of wave ii
Entry point: Around 82.4 (in wave iii when prices start to move up after wave ii)
SL: below the bottom of wave ii (probably around 81.8)
TP1: 83.5
TP2: 84.2
TP3: 86.8