AUDJPY Begins Elliot Correction After Wave 5 Impulse Ends
AUDJPY seems to have started a Elliot Correction Wave after the Impulsive Elliot Wave came to a finish once Wave 5 ended this morning @ 93.774.Now after an Impulsive Wave ends, its theory that a Correction comes next and with Price having Retraced to the Golden Ratio creating a Lower High, this is the beginning signs of that theory in the works!
The Sequence will be confirmed once Price Breaks below Point A @ 93.248 where then we should suspect Price to find itself back down into the 92 range where the Correction Wave should come to an end.
RSI is trading back below 50 confirming Price has room to move lower strengthening the Bearish Bias.
Trade active
(Aggressive)
Short Entry @ 93.43
SL @ 93.63
TP @ 92.75
Trade closed: stop reached
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
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.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
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.