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glennmercer

AUDJPY Short: Selling the Zig-Zag

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
glennmercer Updated   
FX:AUDJPY   Australian Dollar / Japanese Yen
Zigzag Elliott Wave EW wavestructure glennmercer gmercerfx
14
3
zigzag elliottwaves ew wavestructure glennmercer gmercerfx
This pair has completed a descending triangle and has exhibited a strong breakout to the up-side. I want to be bullish in the long term after this correction. However, this correction is very possibly going to be sharp to the downside to satisfy the Elliott Wave rule of alternation since we saw a sideways correction in wave-2. Also, the previous red candle was a sharp impulse. I want to follow that with a SL above its root. Cheers
Trade active:
Comment:
Perfect drop - moving stop to breakeven. Cheers
snapshot
Comment:
I set a sell stop below last 15m candle. If stopped out at break even, this one is cancelled.
snapshot
Trade closed manually:
Closed at b/e

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