EverythingForex

Update #2: AUDUSD: Where Is It Headed? Is It Still Lower?

FX:AUDUSD   Australian Dollar/U.S. Dollar
1057 3 25
It has reached and filled that Gartley EXACTLY as I predicted. If you went long on it, congrats! But now is the time to get out and take your profits! BOTH the Gartley and a long standing crab were both filled and prices have reached the .886 retrace of the previous move down retesting the highs. It may still move higher a little more or it may reverse here. No one can know for sure. But it is likely that we will be seeing some kind of reversal here soon. Maybe now.

In this 4HR chart, I have this move up being the wave (II) of the larger wave 5 down. That, my friends, would mean that we are going to be seeing a wave ( III             ) down! And you all know what that means! Does that sound good? BUT...not so fast!

Here below, I have two different long term views on this pair. You can take a look and see however that BOTH views although different are both at this moment calling for prices to head back down. Mind you, these aren't the ONLY views there are on this pair but to me, they are the most logical.

snapshot

I will be elaborating more on the long term outlook on this pair in both scenarios on my website in the coming days. If you want to see it and get a jump on this pair, well...you know what you must do!

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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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darkhorse
9 months ago
I think the acceleration enough to 1.7380 day resistance level.
Reply
FXJakovskii
9 months ago
So Keeping it under 7400 is your supposition. Mine is too. Also tomorrow NFP is coming out which might turn the current bullish movment. My expectation is scenario 1 with some bounce from (I).
Reply
FXJakovskii FXJakovskii
9 months ago
Nvm, looks like its gonna break out
Reply
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