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steves_c
Jun 22, 2021 11:22 AM

AUDJPY - Elliott Wave Long

Australian Dollar/Japanese YenFXCM

Description

An ABC forecasting an 100% extension as it aligns nicely with R3 target. If it doesn't fulfill the analysis, this is a classic trap and I was caught in it. Maybe I should have waited for the pull back to confirm wave 1 of wave 3 or C before entering. However, the reaction of 38% fibo is strong and a break of the previous high convinced me to enter.

Trade closed: target reached

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