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HayatoDragonFX

AUDJPY, 4hr tf, textbook example of Elliott Wave

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
HayatoDragonFX  
FX:AUDJPY   Australian Dollar / Japanese Yen
Support and Resistance Elliott Wave Fibonacci AUDJPY audjpyshort audjpysell elliottwaveprojection elliottwaveforecasts priceaction priceactiontrading elliotwaveanalysis
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supportandresistance elliottwaves fibonacci audjpy audjpyshort audjpysell elliottwaveprojection elliottwaveforecasts priceaction priceactiontrading elliotwaveanalysis
We saw a textbook setup of Elliott wave principle.
Wave-iii stop exactly at 1.618 fibonacci extension and price then retrace for wave-iv.

We could see wave-iv stop retracing any time soon. As price now facing EMA-50 as resistance.

We still need protective stop loss to play it safely so we will use 84.00 as our stop loss because there is where wave-i located.

Sell AUDJPY 83.60
Stop loss 84.00
Take profit 81.70 (4.75R)

Use only 1-2% risk
Good luck

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