TAS
Short

AUDJPY on a bearish channel

FX:AUDJPY   Australian Dollar/Japanese Yen
64 5 7
Would like to see the channel hold and a new break below the thin dashed line
Will you still hold your SHORTS after the upper line of the channel has broken?
Reply
TAS fxfxfx
Good Question. I may hold my shorts if the upper line is broken, in this case. If my count is correct we are on wave 5. Each wave has 5 waves, so wave 4 of 5 could break to the upside. I then would look at fibos and wave count to see where it would go. This is if I had entered before. I did enter last month. On this chart you see a thin dashed line that's being the support now but I expect it will break that like do the downside. If it breaks up from this red channel I'll exit.
snapshot
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I have been following ur charts for this pair since July. Thanks for your reply
Reply
TAS fxfxfx
you are welcome. I'm always glad to help and always learning. So ask stuff anytime you want.
+1 Reply
TAS TAS
snapshot
This is what I look for. If 4 comes out of the channel, it only invalidates my count if it goes below wave 1
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