romeo2858
Long

AUDUSD...the Kangaroo's Last Kick...Heeyaa !!

FX:AUDUSD   Australian Dollar/U.S. Dollar
695 8 16
a year ago
From months of price movement...and multiple wave counts analysis.
Seems like our kangaroo...keeping its last kick. If it does, this one is gone hurt the greenback....badly.

This week price drops from peak of 0.7282, a bit random and scrambled as compound of corrective waves which can be described as (W)-(X)-(unfinished Y) blue.
As most news headlines this week describe for aussie weakness to dollar, and if so...the drop from 0.7282 should be in impulsive mode, but not in this case which is more corrective movement.

Rally from 0.7018 low made of impulsive 5 waves structure. If indeed, 3 waves formed as (b)....there should be a next move of 5 waves to complete the formation as a zigzag of (Y) to finish.
Also breakdown on lower time frame of (X) blue, show distinctive form of Triangle as the middle of a three wave (b?) magenta.
Double Divergence also noted at 4H chart.

Expecting:
Kick point....(Pivot point)..... of (Y) Blue at 0.7180 ( 61.8% of wave (a).
Hit at greenback's head......at 0.7449 (100% extension of wave (a)....or...less ).

Key Levels:
Lower blue trendline...unbroken, if it does...a possible sideways move of (b?)

Next week could be the start of the Kick.
We'll see then.....
?? No wonder... yesterday he won't jump..., I think he is preparing for his stances. What a Kangaroo..!?

Have a good weekend and Trading (Next week).
a year ago
Comment: Thanks to Deb & Josphat89 for your feedback.
Next week we shall see how the wave will develop.
With double divergences on 4H...my analysis on RSI show positif build up (high pressure) for buying. This might broke the 0.7281 peak...or..may not.
Updated Chart....should be a consideration for buying & not to get surprised if our kangaroo did not penetrate 0.7281, a possible scenario that the (b) correction can expand to a 3-3-5 Flat. If there is....
I could only provide at the smallest chart (15m)...quite hard to squeeze the 5m chart.
snapshot
a year ago
Comment: Trade set up for Aussie's Kick...please proceed on latest Idea
AUDUSD...Come on Aussie!!... kick his Head!!!
Deb PRO
a year ago
I am new to charting trend lines on charts, although very impressed that my charting is on the same spectrum as yours. We will have to wait and see what direction the kangaroo will leap. This week we should have the decision. Happy Trading and thanks
Reply
romeo2858 Deb
a year ago
Thanks for the feedback. Updated charts, might could help to prepare the Long set up.
Reply
Josphat89
a year ago
Totally agreed
Reply
romeo2858 Josphat89
a year ago
Thank you. Updated charts, might could help to prepare the Long set up.
+1 Reply
Victor.Y.F
a year ago
Thanks for sharing your thoughts. It's could be a very short tail as well. I see a 5 wave impulse is coming.
Reply
Mughal2657
a year ago
is it head and shoulder pattern bro am i reading wright or wrong
Reply
Mughal2657
a year ago
REVERSAL PATTERN
Reply
romeo2858 Mughal2657
a year ago
RSI on 30m and 1H still have good ratio (positif built up pressure). Will keep up at least for today.....but keep an eye on 0.7281 level.
if it bounce down....look at update chart above (yellow line). Possible FLAT pattern in effect 3 - 3 - 5.
snapshot
Reply
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