6A ( AUDUSD ) - The downtrend is confirmed! As we mentioned earlier, If the price break throw 0.68899 - downward tendency will continue! (EWA/EWP) Main target 0.65956.
Sincerely yours, Powerful Traders!
Sincerely yours, Powerful Traders.
Thank you for your interest! Your question is the most serious and says that you have attentiveness and good knowledge of wave counting!
Frankly, for a long time, we couldn't understand as well the wave's structure of AUDUSD in historical retro perspective, because there were many others alternatives. But, after the deeply analysis, we stopped at the existing version. We think that from a global chart, this layout is possibly correct. Let's take a look at the last zigzag (y) with a combination of (a), (b), (c). You can see that the impulsive subwave (c) in its composition has the longest 1-st wave. At the same time the estimated 3-d wave is shorter than the first, but referring to immutable Elliotte Waves Principle, the third wave can not be the shortest. For this reason we dare to assume that the suggested 5-th wave in near future will be the shortest, and can take the form of EDT. (Ending Diagonal Triangle 3-3-3-3-3). So, "Maximum stop downtrend" - it's the length of previous 3-d wave and control limit for the last 5-th wave. That is all.
Maybe it's that your waves 1 & 2 of c of y are correct BUT the labeled 3 & 4 are actually 1 & 2 of a longer wave 3 still in progress.
That would lead to a final value around 0.4 aud/usd, where it has gone before.
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Sicerely yours, Powerful Traders