tabletraders,
️️❗️️The purpose of this analysis is for strategic knowledge among us. If you open a position and or enter a position by looking at my analysis and strategy, please find stronger reasons and tactics so you don't make the wrong decision. here I try to spread and share understanding in reading trends rather than advice on taking positions and making money.
Technical / Overbrought
Pair : AUDUSD
Timeframe : 4hrs
Analysis Way : ElliottWave
From the chart,Provide information
️States
- We can attention to the movement pattern projected to the north "UPTREND" if we detail it on a smaller time frame the movement pattern is almost identified as an impulse mono wave with an estimate of having formed wave 5, whether this impulse is perfect or not depends on-market conditions.
- at the time of the market opening the price continues to be pumped up and crosses the test line of the descending channel then, we can see that there are Fibonacci levels that I put to identify the formation of a Strong B FLAT pattern where Point C is a normal C point or C extension.
- from this movement is the formation of the Expanding Triangle pattern.
- as for the path that I put is a prediction of price movements.
From here I am waiting whether there will be a trend reversal movement in the form of a corrective pattern
️️❗️️The purpose of this analysis is for strategic knowledge among us. If you open a position and or enter a position by looking at my analysis and strategy, please find stronger reasons and tactics so you don't make the wrong decision. here I try to spread and share understanding in reading trends rather than advice on taking positions and making money.
Technical / Overbrought
Pair : AUDUSD
Timeframe : 4hrs
Analysis Way : ElliottWave
From the chart,Provide information
️States
- We can attention to the movement pattern projected to the north "UPTREND" if we detail it on a smaller time frame the movement pattern is almost identified as an impulse mono wave with an estimate of having formed wave 5, whether this impulse is perfect or not depends on-market conditions.
- at the time of the market opening the price continues to be pumped up and crosses the test line of the descending channel then, we can see that there are Fibonacci levels that I put to identify the formation of a Strong B FLAT pattern where Point C is a normal C point or C extension.
- from this movement is the formation of the Expanding Triangle pattern.
- as for the path that I put is a prediction of price movements.
From here I am waiting whether there will be a trend reversal movement in the form of a corrective pattern