Hello Traders!
Audjpy is setting up for a big sell. given structure doesnt change and it makes a more rare expanding pattern, we may see a big sell off come in to complete a "C" wave. You can look for opps. to sell on lower timeframe but to be honest, you just have to pick a top here because its not giving a very clear classical chart pattern reversal but because of the new bearish wave structure, I am seeing a lot of rejection coming from this top. Worst case scenario you short and it keeps spiking to make an expanding pattern.
Good Luck!
Audjpy is setting up for a big sell. given structure doesnt change and it makes a more rare expanding pattern, we may see a big sell off come in to complete a "C" wave. You can look for opps. to sell on lower timeframe but to be honest, you just have to pick a top here because its not giving a very clear classical chart pattern reversal but because of the new bearish wave structure, I am seeing a lot of rejection coming from this top. Worst case scenario you short and it keeps spiking to make an expanding pattern.
Good Luck!
Comment:
Price is smacking the floor..
David K Giraldo