AUDUSD : Weekly chart analysis with Elliott Wave Principle
Hello Traders and investors,
I am back with my new idea.
This is AUDUSD weekly timeframe chart.
If we focus on the past movement, we get to know that 1996-2001 we can see the impulse phase.
From 2001 to 2008 there is a new cycle forming up.
In this, on the 4th wave, there is a contracting triangle. 5th wave is extensive wave in this.
From 2008 to 2016 there is an impulse and a corrective phase.
In this we can see, there is an expanding triangle in the 4th wave. 5th wave is an impulse wave. When 5th wave is completed, corrective wave phase is getting started in which wave A is a leading diagonal and wave C is an impulse
Where 5th wave has ended with ABC, at that place there is another Elliott wave forming up which would show the next move.
Wave A has ended, wave B is forming up and wave C is yet to be formed. Expectation of wave B is not yet fixed, once we get that we can ride the wave C.
When wave B will be formed, I will upload the new idea.
I am back with my new idea.
This is AUDUSD weekly timeframe chart.
If we focus on the past movement, we get to know that 1996-2001 we can see the impulse phase.
From 2001 to 2008 there is a new cycle forming up.
In this, on the 4th wave, there is a contracting triangle. 5th wave is extensive wave in this.
From 2008 to 2016 there is an impulse and a corrective phase.
In this we can see, there is an expanding triangle in the 4th wave. 5th wave is an impulse wave. When 5th wave is completed, corrective wave phase is getting started in which wave A is a leading diagonal and wave C is an impulse
Where 5th wave has ended with ABC, at that place there is another Elliott wave forming up which would show the next move.
When wave B will be formed, I will upload the new idea.