owltrader

AUDUSD Triangle formation

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
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Triangle in formation wave e of 4

Comments

Hi ForexTradingRus, did you had a bad day trading to be so "shtY" (to use your word)! I completely disagree with your comments! Take it as my rule of triangle (by the way I am not mentioning Elliott in my graph) I always use the wave A to project the shape of the triangle and determine the wave D as well as the objective of the wave 5 or C following the triangle, and it works quite well. Also the position of the triangle, in wave 4 or B have nothing to do with the "alternation" rules. I would be interested to see a graph with a triangle in wave 2, if you have one available. The work of Elliott is admirable but since a lot of technicians have developed more tools and tricks to apply the concept of wave developed more than 80 years ago, here are few examples that you can not find in Elliott original book: Divergence with RSI in wave 5, first wave (in Forex) often developed in three times only, Triangle formation in wave 4 or B only, fifth wave in wedge where the int.4 can go below the top of the int.1... etc... Also, maybe you can start to write his name properly "Elliott" and not Elliot, Thanks mate and good luck with your trading!
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The move of my dream!!!https://www.tradingview.com/e/82loe3yh/#15801
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Thanks Mohora! Yes it looks that this area can be a strong short term support... I had a dream last night that the AUD will drop below expectation!
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This (e) wave (if it is) will be made in three times... where do you think the first wave will find support? 1.0220 / 1.0090 or 0.9960
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Razvan owltrader
I belive that 1.02, 1.022 could hold for a moment the price.
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Agreed.
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Followed.
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Agreed.
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Agree with Owltrader!!!
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Followed.
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