AUDJPY is currently in a slow and shallow phase which we consider to a the correction phase. We have alternative count showing both directions Bullish and Bearish. Both direction have enough confluence to support its bias. Real question is do we wait or look for correlation?
Option 1
We are done correcting we will soon see the market rise. The A-B-C Zig-Zag Correction is over. Price has already made a 1-2 sequence.
Option 2
We will still see a sell-off to complete the (C) wave. Wave (B) is a Running Triangle pattern. Wave (C) has to still unfold as a motive wave ( impulse/Diagonal)
Both scenarios are valid although the basic rules can tell where its pattern invalidates and confirms certain scenario.
Option 1
We are done correcting we will soon see the market rise. The A-B-C Zig-Zag Correction is over. Price has already made a 1-2 sequence.
Option 2
We will still see a sell-off to complete the (C) wave. Wave (B) is a Running Triangle pattern. Wave (C) has to still unfold as a motive wave ( impulse/Diagonal)
Both scenarios are valid although the basic rules can tell where its pattern invalidates and confirms certain scenario.
