dojitrader
Short

Aggressive Shot At The Top ???

FX:AUDJPY   Australian Dollar/Japanese Yen
73 2 0
The proposed wave count on this 15 min chart is
derived from the Dly count of EWI             and the 8hr chart
of EWSurfer and points to a potential top in the 101.30.40 area.
Should this only be the start of another extension the risk seems
low to find out. Picking tops is rarely a smart trade, but ~~~~
This one seems to be coming together rather nicely, so,
a low risk attempt seems possible.
If the candlesticks do not help or the RSI
does not diverge, as it should in a v th wave, I'll stand aside.
snapshot

101.35 IS also a weekly 0.786 level. should be quite nice resistance
Reply
dojitrader tntsunrise
2 years ago
Yes, it should be, however, if it does not hold, then,
possibly the Bat completion @ .886 = 103.35 looks
like the next reasonable short entry.
Reply
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