AUDUSD broke the down trend line and is making an up move. It is now in a 60 min consolidation after making an impulse ,I am looking to buy the next impulse.
Comments
anilmangal
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Sorry that should be AUDUSD 60 min not 50
Nick_C_
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Anil, I love how we have similar vision on a lot of plays. I have been at work all day watching the same AUDUSD setup from my phone (traded the initial morning impulse on smaller TF), then log on to see you seeing the same thing as the larger picture; Solid work.
anilmangal
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nice !
GcNaif
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you EW guys are rocking . Good one Anil
taniab
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breaking out on up side?
NQunlocked
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Anil, I don't get your strategy here, MACD's direction is to the downside, that previous break of the trend line on it's own is a reason for a bullish bias? I believe that it is a mere correction of the latest downwards impulse.
Nick_C_
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The logic was that it was a five wave advance from the low on a 60 min basis, regardless of the weekly structure
anilmangal
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The weekly candle will likely have a whole 60 cycle in it , I am still expecting an up move to complete this flat formation before it continues to the down side . This deep pullback to the bottom did not negates the formation of a flat .as a matter of fact we sold it twice this week in our trading group (including after NFP) If you were in my webinar you would have had the twice daily update for the sell (hope no one expects me to post all our trades here) and we are in a buy now from the bottom with a 9 pips stop just under.
ghyta
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I`m just looking at this wave and I agree with you. If we talk about a 4th wave correction its not done yet.
NQunlocked
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Thank you for clarifying Anil, so there was a wave count involved, just couldn't see that from the original idea. Do you think an impulse upwards has started?