The AUDUSD is in a corrective structure making a b of C wave , I would be looking to buy the break out of this down b wave structure. If you are in the sell (a trade call in our trading room) watch it as it comes to the trend line .
Trade with care.
Hi Guys in our business "a chart is worth a thousands words' so please post a chart with your idea rather that trying to explain it. Remember we all have different understanding of terms like "falling" "drop" "impulse" "rally" etc.
correction- a thousand* words
YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos Facebook: https://www.facebook.com/ProwaveTrader Training : add to skype mangal457
On the daily chart i do see a good impulse down and i do see some correction a,b,c,d,e so, i thought we should have more rally down or might be wrong which should be a ending diagonal which is the in corrective structure form in the 4hrs which you posted anil so, that why this question popped out anil bcz ur were one who thought me abt these methodology of finding wat is the 1st impulse wave with all the respect .
This is not trolling tradeit, show some respect. The thing is Sumathidenward that you use a daily chart and you are right in terms of impulse lower and currently a correction. However Anil is looking at 4hr chart. You see an impulse higher counted as wave A (A as impulse of the 3 wave correction in this case but smaller degree than your daily chart which could very well be part of the larger correction on daily you are referring to). Hence after this correction 4hr we should expect a break out on the upside as Anil showed on the 4hr chart.
I'm exactly on the same side on this. Same comments, same thought. Maybe I was unfair with you the other day but it's a spontaneous reaction that comes to me when I see "fancy" charts.. In any case, I apologize.
Hi Anil. Here is my view on the ABC pattern which is running flat same as yours, But feel that B wave is not yet over since in running flat, it should be very close to start point of A wave. Appreciate your comments