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Elliotwavecount

Short GBPAUD, Bearish Elliot Wave 5 to start soon. The whole structure of the bearish move seems incomplete. We could be starting the last leg of a bearish impulse that will target 100% retracement. Picture speaks a thousand words. By Elliot Wave of alternation, Wave 2 - Sharp, Wave 4 - sideways corrective moves. We could be at the final stages of a push lower, with an ending diagonal appearing in Wave Y, C leg of a irregular flat pattern. Plus point is that carry is positive, so we can hold without cost. Trade idea, Short at 1.751 Stop Loss : 1.762 (Since Wave 3 of an ending diagonal cannot be the shortest wave) Target. 1.45 area. (To be updated as we count the 5 waves lower)
Short
by melvinljw
USDCAD H4 Chart Wave Count Short I have Drawn the wave structure of USDCAD as per based on my experience . On Today's NFP Data It would be upward movement to complete (e) ,,,with this the Diagonal/ Triangle will be finished and the 4th tooo. for Red extended wave count 12345 will finished at 1.21750 Now we are Left with Blue wave structure 4 up till 1.25750 and 5 down till 1.20000 USD CAD is done forever .. I will not see the Price Level in my Life Again . Bye Bye forever CAD as single Currency,,,, CAD weaker forever from this Level . Elliot Wave By mazchaudhry
Short
by Elliot_Wave_Reloaded
Possible Flat correction...Hi All, Ive been racking my brains to see why EUR keeps rallying even though maximum fib extensions of 686% has been reached; but I think I have a possible solution which makes perfect sense! IT'S A FLAT CORRECTION!!!!!! (3-3-5) In the bigger picture from my previous post, I am expecting a bigger ABC correction to close the gap which I think is still happening due to the nature of the previous impulse wave reaching the max fib extensions as I mentioned above signifying a move has finished. In terms of how this current move fits into that scenario, wave (a) and (b) are complete and (c) is currently in play to complete the flat - once (c) wave is done, the bigger wave A will be complete. We have a few big USD announcements (NFP in particular) this week which could help to push this pair down as EUR is extremely overbought. Let's see what the next 2 days of trading brings as my shorts are still holding nicely. Happy Trading! Don
Short
by donaldsaw