I was already short pair, NFP stopped me out by 1 pip. I did not know this until i awoke, i am currently short again.The pattern forming appears to look like a continuation flag. My plan told be to reactive the short due only to the fact that NFP came out WEAK and price could not break above 1.4520.
After GBPUSD has hit 200 ema a large Bearish engulfing candle has formed.
Wave 2 was a ZIGZAG pattern, rule of alternating Wave 4 has to be a Triangle or a Flat pattern
Waiting to see how price reacts at .618 retracement
AUDNZD will make one more move to upside AB complete C wave is next, when this C wave is complete Wave 4(primary) will complete and thus WAVE 5 will begin. Wave 5 will mean continued downside
Subwave C - to 1.1150 Resistance level
When C subwave ends, Wave 5 begins
EURJPY is currently in an A wave formation (ABC) A wave has 5 subwave, sub-wave 4 is currently taking place and trying to find support at 127.40ish are. i think there will be one more push to upside targeting 128 or close to. I will place limit close order @ 127.90 .
The weekly chart clearly shows a set of tweezer bottom, what we must thing about is..... is this a true or false bullish formation!!! IDK so i busted out the good old elliot wave. the wave formation appears to Me that EURJPY is finished up on wave 4 and we are finishing up on subwave 2 of wave 5.... look at chart! ...