AUDJPY Short: Selling the Zig-Zag

This pair has completed a descending triangle and has exhibited a strong breakout to the up-side. I want to be bullish in the long term after this correction. However, this correction is very possibly going to be sharp to the downside to satisfy the Elliott Wave rule of alternation since we saw a sideways correction in wave-2. Also, the previous red candle was a sharp impulse. I want to follow that with a SL above its root. Cheers

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Komentarz:

Perfect drop - moving stop to breakeven. Cheers

Komentarz:

I set a sell stop below last 15m candle. If stopped out at break even, this one is cancelled.

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