Waiting for it to break 84.477. Will then look for my sell setup. This sideway move that contains 5 waves is the 4th wave of the C wave. Therefore, I'm looking for that last impulse (5th) to the downside. Targeting 127 minimum / 161.80 maximum.
Comment:
Very nice. Broke the top slightly. Creating a sell setup.
Comment:
Just made a sligt break. Completing a C wave. Downfall imminent? Lets look at the three pairs. AUDJPY:
USDJPY:
> Is strengthening correctively.
AUDUSD:
Quite clear that it is about to break down. So USDJPY strength and AUDUSD weakness. Time will tell. Entry short set.
USDJPY:
AUDUSD:
Trade active
Comment:
Another way to look at it which argues for my side of the trade. AUDUSD just breaks down. It has completed a full ABC, A 5 waves, B 3 waves and C 5 waves again
Comment:
stop at BE.
Trade active
Comment:
Comment:
Second one stop at BE.
Trade closed manually:
Closed one manually, BE on the other.
Expecting it to go towards A and then maybe one more up move regardless of that, Entry set.
Comment:
One more thing. Rumours going on about trump placing tariffs on China (Friday). That would be a double whammy for this pair. Yen strength and Aussie weakness as argued on the previous chart. But perhaps this will be the motivation.
Trade active
Comment:
BE. Uncertain in my prediction due to Australia employment numbers later on .
Trade closed: stop reached