dojitrader
Long

Climb On Board The 5th Wave ???

FX:AUDJPY   Australian Dollar/Japanese Yen
47 1 2
I must admit I plagiarized the wave count for wave 4
from another trader that see's through the market
noise better than my abilities allow.
BUT, I can see for myself, that there are 5 waves up
from the channel - wave 4 - proposed bottom and that
should elicit a 3 wave correction for a chance to enter
long and ride the wave as high as the potential
projections of 98.00
At this point wave 5 would equal wave 1 @ 96.16
which places the end of the a-b-c around 95.65/50,
Which is perfect frustration for the bulls who
think the trend line has been broken, flushing
all those stops before it reverses.
Well, that's the ideal, anyway.
Reality awaits !!!!!
Nothing about this says a-b-c correction, although I guess a wave 2
can be simple, short and sharp. Guess I'll wait for something I
recognize before I chase the anticipated upside.
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