The downward consolidation we have seen in the AUD/JPY has taken the form of an Elliott wave formation known as a descending triangle. After Gann prices are taken into consideration, we notice that each consecutive wave lower of the triangle is 22.5 degrees lower than the preceding high.The previous AUD/JPY post regarding Gann time cycles, highlight a specific degree of time. If this time cycle is in fact mature, then we obviously see an amazing symmetry between both time and price.
If you have any questions, please feel free to leave a comment.
Regards,
Justin Neustaeter
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