AUDJPY The power of understanding the wave patterns
Hello Traders, I have been following this pair for long time as you can see from the three past post pinned here.
Wave patterns are very complex , it's not about the lines we put on the charts ,it's not as simple a just selling or buying because a line you put was broken . Most of those lines get broken when a pattern is completed and we see a reversal.
This structure is in a z wave which could possible make one more wave down but that would complete the pattern and reverse.
Trade with care, use a strategy you have tested your self. Remember anything you put on the chart is just to help you analyze the chart structure and not to stop the structure from doing what it will do . So next time you hear someone says , the 200 SMA will hold it or it has to bounce of the support or resistance ,you be very careful......
I will post the trade setup on lower time frame. If you want instant notification when i post please follow me .
Thank for your support.
Wave patterns are very complex , it's not about the lines we put on the charts ,it's not as simple a just selling or buying because a line you put was broken . Most of those lines get broken when a pattern is completed and we see a reversal.
This structure is in a z wave which could possible make one more wave down but that would complete the pattern and reverse.
Trade with care, use a strategy you have tested your self. Remember anything you put on the chart is just to help you analyze the chart structure and not to stop the structure from doing what it will do . So next time you hear someone says , the 200 SMA will hold it or it has to bounce of the support or resistance ,you be very careful......
I will post the trade setup on lower time frame. If you want instant notification when i post please follow me .
Thank for your support.
YouTube: youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
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Training : add to skype mangal457
Facebook: facebook.com/ProwaveTrader
Training : add to skype mangal457
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