AUDJPY - TRADING FOR C WAVE CORRECTION
AUDJPY
We have a completed 5 wave impulse to the highs of 76.250. Note the running flat that comprises the Wave 2 correction.
We also have a head and shoulders pattern, and I am targeting the C wave termination which may also conclude the ABC corrective wave on AUDJPY.
There is symmetry at 74.800 between the A and C waves, which also happens to coincide with the 61.8 retracement of the entire 5-wave up.
We have a completed 5 wave impulse to the highs of 76.250. Note the running flat that comprises the Wave 2 correction.
We also have a head and shoulders pattern, and I am targeting the C wave termination which may also conclude the ABC corrective wave on AUDJPY.
There is symmetry at 74.800 between the A and C waves, which also happens to coincide with the 61.8 retracement of the entire 5-wave up.
Trade closed manually:
Closing trade manually here. An alternate count is that the B wave completed during the Asian session and we are launching now into the C wave to terminate the zigzag
