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
AUDJPY 5 waves into resistance. Stop: 87.20 Entry: 86.30 TP: 82.40
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 Entry: 1.150 TP: 1.0975
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! I am chose to be short 1st and long 2nd and then...
Bat formation is complete, head and shoulders is almost complete on D leg :)
Elliot waves lined up with harmonic patterns, this will be a great trades if market has follow through.
IIIIFFFF EURJPY goes down potential Cypher pattern. If this is the case, Tweezer bottom on weekly charts would support the pattern