Nice Long setup here in AUDUSD. Now completing wave 4 of the main trend. Fib measurement of wave 1 projects a top for wave 5 at 0.981. Notice the top of wave 3 is exactly 2x wave 1 and wave 3 of 3 is 1.68 X wave 1.
Possible short to 50% of the previous high. Target = 147.420 Fib. time projects target by 6-26-14
Possible Zig-Zag nearing completion. Also looks like a B wave triangle is about done in Wave C. Looking for a 5 wave move down from here to around 90.85. Then C = A... or expands to about 90.05. Any thoughts? This has been a hard one make clear over the last week. **Update: 7:32PM Now reversing. Extension was 78.6% of A. Target will be 94.0
Looks like a retest of 0.83 is possible and should be followed by a third 5 wave move to complete the pattern at around 0.848.
Wave 4 looks almost complete, 5th Wave up to around 620 next! I'm loving the new Scripting capabilities. This chart shows my version of RSI with Bollinger Bands and an application of the rising and falling functions to color code the moving average. Very cool.
This is the same idea I published a few days ago with a better fit to the current data. What are you thinking?
Shorting Wave C during the London session... EW looks wrong here now. I think the newest EW tool has been updated and prints the numbers differently
Just in case my USD/JPY short fails... (see ) I like this 10 pip Stop & 100 pip TP
Anyone find this scenario likely?
Long from Pivot @ 1.3290. Note the clean buy and sell signals in the RSI-PPO indicators and Awsome Osc. showing Wave 3 peak. Expect to see divergence with higher highs.
Initially short to 1.3247, then expect Long to 1.3340 before the next move down. Using Andrews Pitchfork & the Gann fan.
Wave 5 looks like it will complete at around 350 and soon, 50% of the high... we may be in for a rapid ride back to around 630 before the next plunge...