AUDJPY 1D, seeking to take the 5th impulsive wave,end correction
Here again guys to share with you the swing setup that i m looking for next week! Honestly i don t love the long term setup but this one looks so good. I ve add elliott wave principle and i go a bit deeper. The basics: 1,2,3 are the impulsive waves instead 2 and 4 are the corrective ones. We have different corrective pattern up to 21 but we can reduce those at : flat, triangle , expanding and zig zag .
Here we have two well defined expanding in sequence that has a,b,c,d,e wave inside in formed by 3,3,3,3,3 each ( so A will have 3 little waves B wille have 3 liitle wave too and so going ahead) hope is clear. Anyway what i m looking is to take the last impulsive wave cause as we can see the fourth wave has already ended the a,b,c,d,e correction and price is setting to drop. A good entry could be where s that little rectangle . I love to stay with little SL order low risk high return is key! Now let s hope that price will come back in that area to entry short!
Disclaimer: All the setup presented in here are ideas shared to give an imput and didn t suggest anything! Trade at your own risk perception
Here we have two well defined expanding in sequence that has a,b,c,d,e wave inside in formed by 3,3,3,3,3 each ( so A will have 3 little waves B wille have 3 liitle wave too and so going ahead) hope is clear. Anyway what i m looking is to take the last impulsive wave cause as we can see the fourth wave has already ended the a,b,c,d,e correction and price is setting to drop. A good entry could be where s that little rectangle . I love to stay with little SL order low risk high return is key! Now let s hope that price will come back in that area to entry short!
Disclaimer: All the setup presented in here are ideas shared to give an imput and didn t suggest anything! Trade at your own risk perception
Comment:
Where s a possible entry when is not too clean find a pin point?!
In this case i ve pulled the trig at 4H inside bar formation look at 4H chart we got the sell region in the little grey box there we look for a reversal candlestick formation.. inside bar is one of those! i have 82.200 with tight stop at 30-35 pips from entry point. Let s see if this play out as planned!
In this case i ve pulled the trig at 4H inside bar formation look at 4H chart we got the sell region in the little grey box there we look for a reversal candlestick formation.. inside bar is one of those! i have 82.200 with tight stop at 30-35 pips from entry point. Let s see if this play out as planned!
Comment:
manage the trades sometimes when it supposed to be done! i ve takes some profit here in this point and put stop loss at BE for last 2 positions cause i see price that could still made another leg up to reach 82.500-600 area so my plan is to sell again there at reverse sign if this is going to happen if not i will hold my positions!
Comment:
market moves perfectly that spike hit the pint point on minor correction structure and push down
Comment:
evening all stopped out at BE on this and missed the long on eurusd but hope someone took it! Anyway i m updating this one here soon..some TL maybe i ve drawn it bad but i m still looking for a potential short i will post the update here but i wanna see meanwhile how this weekly candle is going to close! Then i will watch strictly the PA to see what market is telling us! That s it peace!
Price is currently in a correction we wanna see a sign of exaustion of price in rectangle. One trick that i use often that work 80/90% is that when we look at JPY based pair as cconflunce i use JP225 index that has an opposite correlation with jpy currency so jp225 up jpy currency down so weakness instead jp225 down jpy currency up/strong look at that now and look at almost every jpy pair!
So i will look at that when price around 82.650.