NidalDarawsheh
Short

AUDJPY -Count, Character, Entry and stop

FX:AUDJPY   Australian Dollar/Japanese Yen
398 17 13
please see chart, this count is refined to the 1hr tf
Comment: typo: count invalid above 86.466 (wave 1 bottom) not 84.052
Trade closed: stop reached
It may be worth noticing that 84.and_a_bit is not just the 0.382 fib retrace of wave 3, it's also the 2.618 x wave 1 of C exstension, from start of wave 3 of C, so the probability it turns there is somewhat I would say, or it will continue way higher up to the 88-89 area, long term. In such case, this may not be an a-b-c after all, but a 1-5 impulse on a higher degree. Only the PA can tell, ones we get there, which I am pretty sure we will.
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The only think I see against this count is that what I have as end of 2 (and explicitly start of 3) of C is tiny 0.2 pips below start of 1 of C, and explicitly end of B, and thereby would fall for the invalidation rule... requiring a different count, but it just that I currently don't see any other logical count at this moment, other than the spike down on Nov 9 would be wave 2 in such case.
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@schakim, hi, can you post a chart please, by the way my entry is 84.02, looks like i entered 84.2 in the position tool by mistake, lets see how this unfold
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schakim PRO NidalDarawsheh
@NidalDarawsheh, not sure how this worked out, as I have never published a TW chart before, and if this is what you asked for, but a try...
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schakim PRO NidalDarawsheh
@NidalDarawsheh, and that spike is kinda disturbing in some way as it sort of "puncture" the whole picture. Not sure really if it IS part of the EW picture/structure as I doubt that kinda "noise" didn't exist at the time when Elliot put it together...
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@schakim, i understand what you mean, the blue lines marking abc were placed roughly to mark the correction structure, what you marked 2 is actually my B, i see it as adouble zegzag, give me few minutes i'll publish a chart with notes, cheers
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NidalDarawsheh NidalDarawsheh
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NidalDarawsheh NidalDarawsheh
i did not put much details in the original post because it's daily chart
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schakim PRO NidalDarawsheh
@NidalDarawsheh, Yes that makes more sense to me to have B there, so here is my new count then, and not sure about count of the last leg 5 up, if we have had the top or not, and if not maybe your accidental call of 84.20 is intuitively accidentally optimal ;-)

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@schakim, we have a our 3rd daily resistance at exactly 84.213
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schakim PRO NidalDarawsheh
@NidalDarawsheh, how do you find that resistance? Anyway, if your new chart and count is correct, then it looks like we may go up higher, maybe even way higher and I actually moved my entry from 84.00 to 84.20, for now to give it some room to develop, and not rush in.
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@schakim, from the previous day candle (h,l.c)
Pivot Point (P) = (High + Low + Close)/3

Support 1 (S1) = P - {.382 * (High - Low)}

Support 2 (S2) = P - {.618 * (High - Low)}

Support 3 (S3) = P - {1 * (High - Low)}

Resistance 1 (R1) = P + {.382 * (High - Low)}

Resistance 2 (R2) = P + {.618 * (High - Low)}

Resistance 3 (R3) = P + {1 * (High - Low)}

or simply get an mt4 indicator it will plot them on your chart every day, i don't trade it what so ever, it helps if it matchs my structure and give me a since if the daily range

i use FiboPiv_v2 indicatore google it and download it if you intrested
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with this count/structure, based on generally accepted/established target/ratio rules (or guidelines) wave (v) of 5 of C should end around 84.05, if everything plays out perfectly or 84.75 (w5 = 2.618 x w1)
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Here is how I see this one now. Still not in the trade, just observing and waiting for it get in tune with my projected structure (or not), but if we get a a-b-c here I will probably try to long it at around 83 or just below, depending on where c ends. Bedtime for me now, so will see where it is in the morning...

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what do you think on this as a possible entry on breakout?
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@VForex,
hi, i have similar view, lets wait and see
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NidalDarawsheh NidalDarawsheh
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