Now that is an eye-grabbing headline, isn't it? Made you look! But I'm not blowing smoke here though! Wasn't just a marketing gimmick. I believe IT'S FOR REAL! Looking at this pair from a fresh perspective, I can clearly see the POTENTIAL for MASSIVE UPTREND coming! When? Could start sooner than you think! Let's see how.
So unlike my usual style, I'm going to ask you to NOT pay attention to the MAIN chart above just yet. Go back to it after you have read this whole post. OK? I promise you that you'll understand my perspective better this way. So below, you will see my WEEKLY chart focused on the wave count. The recent lows I believe was just the end of a long and powerful wave (3). Yes, on a SUPER LONG TERM perspective, I have maintained all along that this pair still has a LONG way down to go. So if that was the end of wave (3), then what stands to follow is a wave (4).
Below is the DAILY CHART. Remembering the wave count from above, on this chart, from the end of the wave (3), the next move which should be a corrective pattern could be starting out with a expanding triangle in the wave A of the ABC wave 4. Don't pay attention to the "Advanced Study Bat". We will need to see where the E point of that expanding triangle will end first before we can more reliably project a pattern.
Ok, so now you look at the MAIN chart while I describe what's going on. The D leg of the larger expanding triangle also has it's own expanding triangle pattern that seems to have been completed. So now prices look to be poised to ascend in the E leg of that larger expanding triangle. Prices (as of the time of this post) has not broken above the upper TL of the D leg expanding triangle yet and I am thinking there will be another small rejection again sending prices back down for a bit low enough to form the right shoulder of a possible H&S pattern. After forming the right shoulder, prices will then take off!
Like this analysis? Want more like it? How about more analysis on more pairs and also alerts, and signals? If you are nodding your head yes, then go here for more info: efxselect.com. At the very least, you can join my FB group at: www.facebookdotcom/efxselect where you can get more free analysis and tips and you can also get "MY TRADE PLAN" on this pair! Go join today!
*DISCLAIMER: Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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To all, I will stop replying to this troll as I don't have time for his non-sense. Please stop responding to him. It is not necessary as he is just a troll. Haters will always hate those that do better than they just to boost their own lack of self-worth. I don't need nor have any need to get into any "cock measuring" contest with anyone. So let's just let him have the last word and be done with him.
azx91
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alright i apologize everyone im going to leave all chats good luck
peterchung16
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EF, I got stop out. Judging from the dollar index. It is going to head to 100.295, the top of the DXY trading range. Then it should retrace all the USD pairs.
I would think the AUDUSD will go to test the bottom of the low of the trading range, creating a double Bottom, before it breaks the upper triangle
EverythingForex
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Got stopped out? Were you LONG on this already? Too soon!
peterchung16
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Yep. My bad. I jumped in it before it breaks the upper triangle. I thought it is not a major resistance, because it was three push up. The fourth push should be exhaustive. It turns out that it is still respecting the mini bearish channel.
I was wrong and not discipline. But the position size covers me. So, I was saved.
Post something to prove you know what the heck you are talking about before you go and try to shoot someone else's idea down. Until then, you have no standing.
peterchung16
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Please ignore him. His chart ignores the tail and draws the lines to the body. I have a LOL. In fact, tails of the candle is charting 101. It gives the trading range of the overall pictures. It measures the breakout of the rally. It shows the breakout success or failure.