DanV
Short

AUDUSD - SHORT TREM IN TRIANGLE FORMATION

FX:AUDUSD   Australian Dollar/U.S. Dollar
Many have been showing lot of interest in this pair so I thought this would be an excellent opportunity to highlight what I think is triangle formation. If correct you offer lots of opportunities to trade whilst triangle is being formed and best trade would be on triangle completion when the prior bearish trend will resume

In Elliot wave these types of triangle are called 3-3-3-3-3 and are characterised by each of the swings A - E have 3 minor swings within it as zigzag . They offer very clear advantage as likely swings could be anticipated without too much difficulties.

In this case we appear have completed swings a, b, and c with swing "d" in progress. So whilst saying we are in bearish swing it is likely to offer both bullish and bearish trades as we progress.

On completion the trend will continue to the downside.

Hope you will find this useful.


As always, do your own analysis for your trade requirement. Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, comments and sharing with others. If you have an alternative idea then please share for all to learn from.

Thank you for taking the time to read my analysis.

DanV
http://www.danv-charting.com
https://www.youtube.com/channel/UChJVIJir7nymD9J3ZWoal-w/feed
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elroy08 PRO
2 years ago
This means short the US dollar and long Australian dollar, correct?
Reply
DanV MOD elroy08
2 years ago
For this pair right now you would consider shorting AUD and that would result in being long USD Vs AUD Hope this helps.
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elroy08 PRO DanV
2 years ago
Thanks...
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DanV MOD elroy08
2 years ago
You are welcome.
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elroy08 PRO DanV
2 years ago
Going long CROC would work?
Reply
DanV MOD elroy08
2 years ago
Sorry not with you.
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elroy08 PRO DanV
2 years ago
It's an AUD short ETF:
CROC Tracks This Index: AUD/USD Cross Rate (-200%)
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DanV MOD elroy08
2 years ago
Ah, I see what you mean. I have not looked into that. Sorry.
Reply
Almot
2 years ago
Hi Dan! Agree!
Reply
DanV MOD Almot
2 years ago
Thank you kindly.
Reply
DanV MOD
2 years ago
Slight adjustment on the published chart : namely the point c which I assume has been formed is in fact still in progress but nearly complete.
snapshot
+1 Reply
IvanLabrie PRO DanV
2 years ago
Makes a lot of sense.
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DanV MOD IvanLabrie
2 years ago
Thanks.
Reply
DanV MOD
2 years ago
Expect a possible retest of today's spike high, before we turn down
snapshot
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reedake DanV
2 years ago
Spot on!
Reply
DanV MOD reedake
2 years ago
Thanks Mate.
Reply
M.T.Signals PRO DanV
2 years ago
Really i love your analysis Dan :)
Really appreciate your kind work
Reply
DanV MOD M.T.Signals
2 years ago
Thank you for your appreciation. BTW I have re-published AUDUSD due to change in price action.
AUDUSD - BEARISH SHORT AND INTERMEDIATE TERM
Reply
M.T.Signals PRO DanV
2 years ago
:) thanks!
Reply
Nickmail
2 years ago
hey! not so fast ) need to retest 0.90
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DanV MOD Nickmail
2 years ago
You could be right if my triangle fails.
Reply
DanV MOD
2 years ago
Due to price action since publishing this chart it seems it is no longer forming anticipated Triangle. I have republished a revised chart
AUDUSD - BEARISH SHORT AND INTERMEDIATE TERM
+1 Reply
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