AUDUSD - Be careful of the shark in the waves@0.8065
Updated
Safe Traders can look to initiate short positions below 0.7800 mark & Risky Traders Can take advantage of shark@0.8065 but check all other tools to confirm the sell position from close by levels of 0.8065-0.8000 zone.
We look for internal wave 3 to complete close to 0.73285 which is the end of the triangle & a thrust started & completed@0.8065 & later bounce back to complete wave 4 upside & final fall which completes wave (C) - this completes the whole sequence which started from 1.1080 in year 2011
There is a shark in between vertical lines shown just above as to get good picture & view of the instrument rather than making it choppy.
So, we have a strong confluence of shark in the waves at close by levels of 0.8065 which can offer good resistance. Safe Trading can be initiated below 0.7800 mark
Target- minimum should be E- wave in the triangle@0.73285- if that breaks then it becomes more bearish else a possible bounce back can be expected.
Enjoy. Shall be returning back in another 3 months to check -how the structure has opened up.
Take Care.
Previous Update - left at C- Wave in Triangle in Dec2016
We look for internal wave 3 to complete close to 0.73285 which is the end of the triangle & a thrust started & completed@0.8065 & later bounce back to complete wave 4 upside & final fall which completes wave (C) - this completes the whole sequence which started from 1.1080 in year 2011
There is a shark in between vertical lines shown just above as to get good picture & view of the instrument rather than making it choppy.
So, we have a strong confluence of shark in the waves at close by levels of 0.8065 which can offer good resistance. Safe Trading can be initiated below 0.7800 mark
Target- minimum should be E- wave in the triangle@0.73285- if that breaks then it becomes more bearish else a possible bounce back can be expected.
Enjoy. Shall be returning back in another 3 months to check -how the structure has opened up.
Take Care.
Previous Update - left at C- Wave in Triangle in Dec2016
Trade active
13:20 Hrs 23rd Aug2017 Last price@0.7885
Falls from top@0.7950 as suggested for Risky Traders.
Trade active
19:55 Hrs 6th Oct2017Last Price@0.7753
Looks to be impulsive fall below 0.8000 mark. If it wave 1-2-3 count in that case wave 3 completes 200% of wave 1 @0.7765.
We shall look for bounce back in wave 4 which likely should travel 38.2% @0.7880 & close previous swing high@0.7875 once it holds above 0.7750
Look for Buying opportunity using your own analysis.
Best of Luck.
Trade active
07:05 Hrs IST- 10th Oct2017Last Price@0.7783
AUDUSD turned as anticipated from lows of 0.7733. Use Trail Stop Method to Squeeze most out of this upside push. If it extends beyond & stays above 0.7900 then it could even make new high above 0.8125
Trade active
18:42 Hrs 13th Oct2017Last Price@0.7873
Awesome - It pushed from 0.7750 to 0.7880 - We will take rest if it sustains above 0.7900 then next week we will plan to take long positions else holding down below 0.7900 - It can drop below 0.7333 - Enjoy the weekend.
Trade active
07:48 Hrs 17th Oct2017Last Price@0.7840
Took U- Turn from 0.7897 under 0.7900 as anticipated & heading down.
Trade active
17:28 Hrs 17th Oct2017Last Price@0.7846
Next we continue down move below mini bottom@0.7833
Trade closed: target reached
Closed -done & out
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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