AUDJPY@ Bearish AB=CD Completion in Key Resistance
Watching AUDJPY closely we can see that price is testing a key resistance level where a bearish AB=CD pattern has been completed. Actually its waves represent the correction pattern abc of a 5 elliott wave cycle (circled numbers).
In addition we can see that at the same level we have an ABCDE corrective pattern completion (wave 4) of a larger 5-3 elliott wave cycle. Having that in mind we should see a final move to the down in order to have our 5th last wave. Our AB=CD pattern could trigger the beggining of that move.
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John
In addition we can see that at the same level we have an ABCDE corrective pattern completion (wave 4) of a larger 5-3 elliott wave cycle. Having that in mind we should see a final move to the down in order to have our 5th last wave. Our AB=CD pattern could trigger the beggining of that move.
Like and comment,
John