dojitrader
Long

Second chance for entry . . . or sucker play ?

FX:AUDJPY   Australian Dollar / Japanese Yen
68 1 0
However you want to count this corrective price action, the overriding factor is that
a thrust from a triangle is terminal - meaning the current price swing is ending, thus,
whether this is a B or X or even a 4th, one can enter here and t/p at the measured
projection or wait for the final pattern and sell the potential top for a nice ride down.
At this point the top could be as high as 95.75 where A/W = C/Y
No doubt price action will give us some clues for a short entry soon enough.
Feeling aggressive BuT, With No Guts, I entered this trade at E (93.15)in my Demo Acct.
Huh !!!! Of course I wish . . .
Not sure what to think of this one. It's still a valid buy until it breaks below
E @ 92.92.
I think I'll forget about the buy and just look for a sell if this does
break out of the triangle and thus would be the terminal move
that's much higher probabilities for success.
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