Elliott Wave AUDUSD 1 Hour Chart: Trading Strategies
Aussie fell during Asian session after RBA cut interest rates to 4.25% as expected. The whole structure from the past week highs is still only in three waves, currently with wave C in progress, which may find the lows very soon. We will keep an eye on levels around 1.0150 and even around 1.0050 if weakness extends. But in either case, we need to wait on impulsive rally, which will suggests that wave X) is done, and strength underway above 1.0300.GET A 1MONTH TRIAL»
AUDUSD 4 Hour Chart
Monday, 5 December 2011 at 5:35:00PM AEST - corrective wave D)
No change after a rise into 1.0340 resistance area in the past week which completely invalidated bearish impulsive interpretations. Now we can clearly see that structure from 1.0751 is in three waves, which is a corrective move. As such, we suspect that this is just another leg of a huge complex wave IV correction, which is showing signs of a triangle consolidation. If we are on the right track, then wave (C) found the lows at 0.9649 and current sharply rally is wave D), which may reach even higher levels in days ahead, around 1.0450/1.0500.GET A 1MONTH TRIAL»
Monday, 5 December 2011 at 5:35:00PM AEST - corrective wave D)
No change after a rise into 1.0340 resistance area in the past week which completely invalidated bearish impulsive interpretations. Now we can clearly see that structure from 1.0751 is in three waves, which is a corrective move. As such, we suspect that this is just another leg of a huge complex wave IV correction, which is showing signs of a triangle consolidation. If we are on the right track, then wave (C) found the lows at 0.9649 and current sharply rally is wave D), which may reach even higher levels in days ahead, around 1.0450/1.0500.GET A 1MONTH TRIAL»
AUDUSD Daily Chart
4 December 2011 – wave IV triangle IV
After a sharp rally seen in the past week from 0.9660 region, we suspect that pair is trapped in the middle of a triangle consolidation but still in complete. We know that triangles are structured by five legs, which means more sideways to come, before pattern is complete.
Meanwhile however we need to consider bearish possibilities as well, alternate bearish triangle count in B wave, especially once wave (D) is finished.GET A 1MONTH TRIAL»
4 December 2011 – wave IV triangle IV
After a sharp rally seen in the past week from 0.9660 region, we suspect that pair is trapped in the middle of a triangle consolidation but still in complete. We know that triangles are structured by five legs, which means more sideways to come, before pattern is complete.
Meanwhile however we need to consider bearish possibilities as well, alternate bearish triangle count in B wave, especially once wave (D) is finished.GET A 1MONTH TRIAL»
29 October 2011 – back to bullish
After some significant weakness seen a month back, pair reversed sharply from 0.933 region, bounced exactly from the upper base channel support line. As such, it seems that Long-term top is still not in place, and that impulsive sequence from 0.6 will continue, currently with wave V into 138.2, 161.8% extended Fibo levels. GET A 1MONTH TRIAL»
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