NZDJPY recently completed its impulsive wave (see chart for breakdown of impulsive schematic).
We are now in the corrective phase, which is an ABC correction. We are almost at the completion of wave A. Expecting one more move lower to complete the 5th subwave of wave A. Expecting a deep pullback once the 5th subwave has finished.
Whilst we wait for wave B, we can catch the final wave down of wave A.
SHORT Trade Idea:
- Watch for price to breakdown on lower timeframe
- Targets: 79.5 (380pips) 76 (720pips)
As always, goodluck and please do trade safe!
We are now in the corrective phase, which is an ABC correction. We are almost at the completion of wave A. Expecting one more move lower to complete the 5th subwave of wave A. Expecting a deep pullback once the 5th subwave has finished.
Whilst we wait for wave B, we can catch the final wave down of wave A.
SHORT Trade Idea:
- Watch for price to breakdown on lower timeframe
- Targets: 79.5 (380pips) 76 (720pips)
As always, goodluck and please do trade safe!
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Update:
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