Hello traders , AUDJPY in daily timeframe , In this currency pair, waves 1, 2, 3 and possibly wave 4 are formed and now we are inside wave 5.
As we said in the previous analysis, we considered wave 5 as a progressive triangle, and from this wave, waves 1, 2 and 3 are formed very normally.
But Wave 4 has corrected Wave 3 more than usual, making it somewhat unreliable.
... Given that Wave 4 reacts very well to the beginning of Wave 3, it considers the same scenario, and we think this is the recent ascent for Wave 5 from Wave 5.
This wave is a weak wave based on the previous waves and may not move above Fibo 0.618, and if this Fibo breaks, the rise to Fibo 1.00 is confirmed.
If the support of the downward warning signal is broken, the wave count will be fielded and the form of wave formation will change.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
As we said in the previous analysis, we considered wave 5 as a progressive triangle, and from this wave, waves 1, 2 and 3 are formed very normally.
But Wave 4 has corrected Wave 3 more than usual, making it somewhat unreliable.
... Given that Wave 4 reacts very well to the beginning of Wave 3, it considers the same scenario, and we think this is the recent ascent for Wave 5 from Wave 5.
This wave is a weak wave based on the previous waves and may not move above Fibo 0.618, and if this Fibo breaks, the rise to Fibo 1.00 is confirmed.
If the support of the downward warning signal is broken, the wave count will be fielded and the form of wave formation will change.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.