This is part of my weekly analysis newsletter that is sent out every week to subscribers. Use this analysis in addition to your own analysis of the markets.
AUDUSD - A Very Telling But Complicated Pattern Is Developing. But When It Completes, BIG Moves Follow!
AUDUSD has been making LARGE swings back and forth making it hard to trade and profit. But this past week saw some market moves that could be very telling as to what it is that AUDUSD is going to do in the weeks ahead. Could be the reason for these extreme market moves is that trader's are anticipating the Fed rate decision in 2 weeks. The pattern that we see developing now is the "Crown Of Thorns" pattern. This pattern is VERY complex and involves MUCH swinging. If you have tried to trade this lately, you know the pain! Maybe this is name the "Crown Of Thorns" because of the pain it can cause those that try to trade it! The recent PA has also forced a MAJOR adjustment to the overall wave count. This "adjustment" is now revealing with MUCH clarity what is to take place in the coming weeks and probably months to come!
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TFrank_1
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Great analysis pal, really in debth
EverythingForex
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thanks.
PhilippeRitchot
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Wow, great depth on this idea! Thank you for your analysis!
EverythingForex
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thanks. you should see the 4 hour chart on this if you want detail!