HamzaLeith
Short

AUDUSD Short setup

FX:AUDUSD   Australian Dollar/U.S. Dollar
Idea is based on Elliott wave theory. Fib-extensions ratio confluence is used for reversals projections. More info on the chart. Good luck.
TTCSteve
a year ago
agree that we're likely in the fourth wave here, on the short term I'd be happy enough to see a shot of 73.20-72.90 area to complete the c of b of iv, before up in C of iv ((4) on your chart) into 75-76. My question; why do you have such an extended 5th of 5 other than the confluence you are suggesting?
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HamzaLeith TTCSteve
a year ago
Hi steve, it is the confluence indeed which yields the extended 5th of 5. Notice how the previous confluence price resulted in the ongoing correction. These points have proven to be quite accurate reversal points in many of my analyses over and over. Cheers Hamza
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donaldsaw
a year ago
Hi Hamzal,

I can't see what your correction wave 2 of 5 is and want to determine if wave 4 is going to be a flat or a triangle. - Here's what I am seeing.

snapshot
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HamzaLeith donaldsaw
a year ago
Hi, you mean this correction?
snapshot
? With regards to whether wave 4 is a flat or a triangle, I haven't tried to break it down on a smaller time frame to be honest, may even be too early to tell?. So I won't be able give you a good answer on that one, Cheers
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donaldsaw
a year ago
It definitely might be too early so worth keeping an eye on. If it breaks the 7440 mark then its 100% not a triangle. TBC but thanks for sharing the graph.
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HamzaLeith donaldsaw
a year ago
You are welcome :)
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