pavan15589

AUDUSD - Elliot Wave Cycle

FX:AUDUSD   Australian Dollar/U.S. Dollar
73 0 0
AUDUSD             is portraying a classic Elliot Wave as the 'V' wave has had a very flat trend, a diagonal wave and failed to gain much height from the peak of motive 'III' which represents a classic scenario of Elliot Wave Cycle....

The dying 'V' wave represents an initiation of a corrective trend thus depicting a probable 5-3 cycle in which the leg 'B' is already at play.

We could see the cycle completion at point 'C' before the trend continues.

*This is as per my understanding so far and any mistakes and further corrections or comments will certainly help as I am still studying principle.
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