Small Buy Followed By Sell to Complete Wave 2(Elliot Waves)
My Last Prediction for AUDUSD in the smaller time-frame was 100% Perfectly Met. We did do a ZigZag Structure for Wave 4 and price did respect the exact 100% level area before reversing down for Wave 5 as mentioned in the previous analysis. Do check it out!!
For AUDUSD after last weeks movement. I believe we are currently in Wave 1 of an entirely new Structure. This is because i believe we have completed the FLAT Corrective structure in the Grand Major Time-frame. Therefore i do believe we are bullish in the long term.
For the Medium term i believe we have complete Wave 1 and are currently in the midst of completing Wave 2. I believe Wave 2 is turning out to be a ZigZag Structure as the first structure down was a 5 wave movement down. To those that do not know, in Elliot Wave's Theory a ZigZag structure occurs in a 5-3-5 Structure. So since the first structure was in 5 waves down now we shall expect a small retracement in 3 waves before another 5 waves down to complete the ZigZag for Wave 2.
For the Short Term, within the ZigZag i believe we have completed its LEG A with the 5 wave down and now we are in the midst of completing the LEG B which should be in a 3 wave format. I believe for LEG B we will be doing a FLAT structure. Within the mentioned Flat structure in LEG B i believe we have completed is Minor Leg A and Minor Leg B. Whats left is Minor Leg C which sould unfold in 5 waves move to the upside possibly even exceeding the entry point of Minor Leg A as indicated by the arrow. That would mean the completion of LEG B of the ZigZag .
After that we will be looking for Sell Setups for another 5 Waves down to complete LEG C of the ZigZag. Will give updates on Wave 3 as and when Wave 2 completes.
NOT FINANCIAL ADVISE JUST MY IDEAS
For AUDUSD after last weeks movement. I believe we are currently in Wave 1 of an entirely new Structure. This is because i believe we have completed the FLAT Corrective structure in the Grand Major Time-frame. Therefore i do believe we are bullish in the long term.
For the Medium term i believe we have complete Wave 1 and are currently in the midst of completing Wave 2. I believe Wave 2 is turning out to be a ZigZag Structure as the first structure down was a 5 wave movement down. To those that do not know, in Elliot Wave's Theory a ZigZag structure occurs in a 5-3-5 Structure. So since the first structure was in 5 waves down now we shall expect a small retracement in 3 waves before another 5 waves down to complete the ZigZag for Wave 2.
For the Short Term, within the ZigZag i believe we have completed its LEG A with the 5 wave down and now we are in the midst of completing the LEG B which should be in a 3 wave format. I believe for LEG B we will be doing a FLAT structure. Within the mentioned Flat structure in LEG B i believe we have completed is Minor Leg A and Minor Leg B. Whats left is Minor Leg C which sould unfold in 5 waves move to the upside possibly even exceeding the entry point of Minor Leg A as indicated by the arrow. That would mean the completion of LEG B of the ZigZag .
After that we will be looking for Sell Setups for another 5 Waves down to complete LEG C of the ZigZag. Will give updates on Wave 3 as and when Wave 2 completes.
NOT FINANCIAL ADVISE JUST MY IDEAS