This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Nice AUD/YEN chart.That does look like 5 down to around $86 for 1. 535 zigzag to around $96 for 2. Could also be an A then B with a C to come but if it is a 3 down coming then it is generally set to reach down to around $64 for a really nice drop.That's what it looks like but been fooled many times on similar type setups. For a 3 down from that position would expect increasingly strong momentum from here - if not then danger of something else.
Thanks.Some say it s the best risk on/off indicator so maybe this signal is significant for the stockmarket. We had a nice 6 mnoth cycle from the May high to the Oct high then a DT in a LH position and ema cross = great setup imho