Trading_Jazz
Long

Completed Monthly Cypher with RSI Bullish divergence ®

FX:AUDUSD   Australian Dollar/U.S. Dollar
FX:AUDUSD            

CYPHER:
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD

Safe Trades;
Comment: slow and steady...
hello sir ,

ext XA valid?
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Same question.
I dont think the XA valid in this CYPHER.
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Trading_Jazz PRO FUNTRADER-Vera
Can i ask you why? :)
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korhancakir Trading_Jazz
because there are candles closed above 1.414

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korhancakir korhancakir
snapshot
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Trading_Jazz PRO korhancakir
You mean B to C leg?

Yes, but if you expect to find only situations where the price hit the ratios with nails, you will never trade those patterns, and dispite that fact, as you can confirm, the price as fall around the 141% extension.
Try to find "zones", "price levels" and not exact Prices ;) (monthly charts can be tricky, because that difference you are talking about can produce hundreds of pips of difference), but this is my view and i dont trade monthly charts obviously, these serve to have a bigger idea.
I understand your "worries", but again, im not searching for exact prices, but zones where the price can reverse ;) Eventually. IF=THEN ®

Have Nice trades;
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beautiful. what's your lower timeframe entry? I'm waiting for a deeper retracement. posted a reversal weekly chart. let me know what you think.
cheers and long live jazz.
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Thanks IvanLabrie, i appreciate your comments, and your work too ;).
Eventually on daily and 4 hour charts, but i allways enjoy to keep them all "controlled".
This is a daily chart, editable, so you can add something and paste it here ;) But in fact, after that retracement, that i think can hit the 61.8% could be a nice option...

https://www.tradingview.com/chart/qQ5nMnlg/
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IvanLabrie PRO Trading_Jazz
snapshot


I hope it isn't a triangle...so this isn't a B, and it's a 1-2 instead. But well, both would give a nice long in wave 3 or C.
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IvanLabrie PRO IvanLabrie
You can clearly see 5 waves in my starting point. The structure from the whole decline ended in higher low, this is potentially a truncation, and very bullish.
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nice approach Ivan, im trying my best with elliot waves, learning process, and in fact that point about the time is also important, there's something to read about ;) Thanks
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IvanLabrie PRO Trading_Jazz
That's a neowave application of EW. Not traditional EWI school. I'm a beginner too.
Cheers!
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Thank you, I am in AUDUSD buy since last week, minus so far. so this is good news for me!
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VERY interesting analysis!!!

I assume that we consider this long term idea.

For the time being (I estimate a couple of months ahead)this is what I see:

AUDUSD Break-out performance


Lets wait it out.

I believe both ideas to be right, it is just the timescale difference that makes it awkward to concept.
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