DislikedHi Q NZDJPY looking interesting looks like on weekly has a missing wave down to 71 or 70 but could reverse at current levels got any ideas for this one Q or is it of your radar jvm {image}Ignored
However, it do not believe this is possible for every scenario even though wave counters try to impose wave counting rules as if this were possible. As I mentioned before if long-term price does not look sufficiently overextended I will depend on short-term PA to determine the extent of price overextension. In this case probably on M30-H1.
With that said, if price makes its way down to those highs, they will be hard to ignore. Over the past 15 years+ there hasn't be a range quite like it on this pair:
Here are two golden levels there are defined by short-term ranges with the larger range and exist at more conservative prices. The choice will be between taking a long from those highs around 69.00+ with larger stops or from deeper set golden level with tighter stops.