AUDJPY | The best scenario for correctionđź“ť
Hello traders , AUDJPY in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
In this symbol, waves 1, 2, 3 and possibly wave 4 are formed and now we are inside wave 5,
As we said, we considered wave 5 as a leading triangle, and from this wave, waves 1, 2 and 3 are formed very normally.
But Wave 4 has corrected Wave 3 more than usual, making it somewhat unreliable.
... Given that Wave 4 reacts very well to the beginning of Wave 3, it considers the same scenario, and we think this recent ascent is for Wave 5 of 5.
Wave 5 of 5, like the previous waves of the triangle, is formed in the form of three waves, and from these three waves, wave a is being formed. Wave a is currently an expanding leading triangle that is inside wave 5.
To complete this, wave 5 must make a slightly higher upward move than the end of wave 3, and this move was confirmed when the trend line was broken upwards in the previous analysis.
Now the ratio of waves 1 to 3 from a to 5 is equal to Fibo 1.00 for wave v and we expect correction.
In the first stage of this correction, we consider the black channel floor and in the second stage, the orange channel floor.
We still have the mentality that it is inside the 4 main wave, this wave is probably formed in the form of a triangle, and this decrease that we think will occur is related to the e wave of this triangle.
If Fibo 1.00, ie the range of 85,500 is broken upwards, we should not insist on starting this correction.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In this symbol, waves 1, 2, 3 and possibly wave 4 are formed and now we are inside wave 5,
As we said, we considered wave 5 as a leading triangle, and from this wave, waves 1, 2 and 3 are formed very normally.
But Wave 4 has corrected Wave 3 more than usual, making it somewhat unreliable.
... Given that Wave 4 reacts very well to the beginning of Wave 3, it considers the same scenario, and we think this recent ascent is for Wave 5 of 5.
Wave 5 of 5, like the previous waves of the triangle, is formed in the form of three waves, and from these three waves, wave a is being formed. Wave a is currently an expanding leading triangle that is inside wave 5.
To complete this, wave 5 must make a slightly higher upward move than the end of wave 3, and this move was confirmed when the trend line was broken upwards in the previous analysis.
Now the ratio of waves 1 to 3 from a to 5 is equal to Fibo 1.00 for wave v and we expect correction.
In the first stage of this correction, we consider the black channel floor and in the second stage, the orange channel floor.
We still have the mentality that it is inside the 4 main wave, this wave is probably formed in the form of a triangle, and this decrease that we think will occur is related to the e wave of this triangle.
If Fibo 1.00, ie the range of 85,500 is broken upwards, we should not insist on starting this correction.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
Penafian
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