AUDJPY: Dropping Now BUT Just How Big Of A Drop Possible?

22. März 2017

When you can read the chart and get a good idea of what the wave counts are, you really, really can get an edge! Take this pair for example. For awhile now, I've been anticipating a HUGE drop to come in this pair. It just took A LOT of PATIENCE though to wait for this to happen. And it may just be starting now! PATIENCE rewarded? Maybe. We'll see.

WEEKLY CHARTS

Here's a weekly chart I issued on Feb 6th where I show that I was expecting a drop to come. Remember this is a weekly chart so that relatively "small" drop I was showing represents several hundred pips.

Here's my updated chart where I show what is POSSIBLE:

DAILY CHART

This is my chart I issued on March 13th which shows that I was expecting this drop:

4HR CHART

And this is the 4HR chart I issued yesterday after I had already issued the SELL call that shows that I was expecting a drop to come:

MAIN CHART

In the main chart above, I show the 4HR view where I already issued the SELL call when I saw the setup that I had been looking for after the wave count told me that a BIG drop was coming. This move down could be a wave 3 type drop. That would imply that we are to see MUCH more lower prices yet to come.

Wait for a pullback in order to try to get in on this POSSIBLE drop. Don't chase the trade! Wait for it to come back to you! If it doesn't, just let it go and look for another trade! You missed it! PM me with questions/comments.