$AUDUSD Wolfe Wave, Point 4 In Sight

FX:AUDUSD   Australian Dollar/U.S. Dollar
Hello Traders,

In this Wolfe Wave I want to highlight the internal moves between the points.

Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on.


Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern . 2-3 is typically the longest wave in length and time. It can also possess more complex internal wave patterns as the points are being created.

Points 3-4: This path is similar to point 1-2 as it forms another, smaller, abcd pattern . If point 1-2, for example, is an impulse move, look for 3-4 to act in the same manner.

Points 4-5: There are a number of moves that can develop between these points, another abcd, ZigZag pattern, or a swift move to the downside is possible. This move is really what I am interested in seeing in this chart!

Finally, I want to hone in on the 1-4 trajectory line and how it can potentially help us figure out where point 4 is. Notice how I place the trajectory at an angle that acts as an anchor throughout the formation of this Wolfe Wave . I would also be interested to see how this plays a role in this formation.

If you find this chart helpful please let me know by liking and following! :-}

Thank you,
Looks good.
+1 Reply
Chartistry PRO IvanLabrie
Thanks Ivan. I like your work as well.
+1 Reply
IvanLabrie PRO Chartistry
Once the retracement is done, this long will be amazing...same as usdcnh short, and nzdusd longs (and S&P500 for that matter).
I expect the correction to last a month or two, considering the time duration of this advance.
+1 Reply
Chartistry PRO IvanLabrie
Can you determine with Time at Mode how deep the retracement will be? Or how long it will be?
IvanLabrie PRO Chartistry
Yes, using a lower timeframe.
+1 Reply
Chartistry PRO IvanLabrie
So for the next two months USD will be strengthening as a whole or just against this pair?
IvanLabrie PRO Chartistry
I think equities will correct, thus, China and the other Oceanic currencies will correct too. If you check they are highly correlated.
Long term, I'm long CNH, and looking to rejoin AUD.
+1 Reply
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