EverythingForex

UPDATE #6: ANALYSIS: AUDUSD - MASSIVE Move Underway? +464 pips

FX:AUDUSD   Australian Dollar/U.S. Dollar
1355 5 17
In my last update on this pair, I suggested that this MASSIVE MOVE I had been hawking for 10 days now was already underway. Well, it was. And I was all over it! I issued 2 trades on this pair to my members and have practically caught the ENTIRE move up from the very start! If I'm right, this move up was part of a wave 3-type move. HINT:, I said "part of a wave 3-type move". Meaning it's NOT OVER!

On 11/12, I issued a trade to my members to place a "TRADE ALERT: Limit order: BUY AUDUSD@0.70810 SL@0.70000 TP1@0.75500" and later adjusted the entry to .70710.
Then on 11/17, I told my members to BUY, "TRADE ALERT: AUDUSD             BUY@.71200 SL@.70280" . Here's the post on that trade:
TRADE: AUDUSD - BUY@.71200

On 11/18, prices dropped and hit .70691 triggering the limit order at .70710 in addition to the 1st LONG entry at .71200. So I had 2 LONG orders going LONG. Yesterday, I issued a TP1 take profit order @50% on both orders and today issued a CLOSE TRADE order on both.

TRADE #1 + 185 pips combined profit
TRADE #2 +279 pips combined profit
TOTAL Profit: +464 pips

So is this the MASSIVE MOVE I had been touting? Well, part of it. Because by my count, IT ISN'T OVER! Yes, this was a wave ( iii             ) of (3) move I just caught from tip to tip. But the wave (3) isn't done yet. And neither is the overall 5-wave move up. I'll be positioning myself for the next move up.

WAVE COUNT

I've marked the lows as the ending of the wave (B) of the overall ABC wave 4 correction that I believe this pair to be in . From those lows, I have wave (C) as having started. The initial rise from those lows I have as the wave (1) of the wave (C), The following decline was a wave (2) which ended within the G-Zone retesting the lows at the .707 level. I caught the very bottom of the wave (2) with my trade and rode the wave (3) up from there. Now, by my wave count, this wave (3) has only just probably finished it's wave ( iii             ) of (3).

PATTERNS

The H&S pattern had a very clear neckline from which the wave (3) launched. There is a POTENTIAL Bat ( gold             ) that prices are barreling towards its completion. When that bat is completed, that should mark the end of the wave (3) where there is also a MAJOR SR Structure. There is another POTENTIAL Bat past that SR Structure that should be a part of the next larger wave (5).

DAILY CHART - The Bigger Picture & That MASSIVE MOVE UP!
This is the DAILY chart I posted 5 days ago showing the bigger overall expectancy of this trade. And no, you eye are not playing tricks on you! It looks like the MAIN 4HR chart above, doesn't it? It isn't. Look more closely! If the wave count on my DAILY chart is correct, then this 5-wave move up on my 4HR chart is only the WAVE (I) of a larger 5-wave move on the DAILY chart!
AUDUSD: DAILY Chart - Wave Count + Patterns = Wave 3 of 3 Coming

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*DISCLAIMER:
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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Reply
kopparam
a year ago
snapshot
Reply
EverythingForex PRO kopparam
a year ago
Not a cypher
Reply
kopparam EverythingForex
a year ago
sorry ...............my wrong............ty ....my targets are much higher now its shark pattern
snapshot

Reply
peterchung16
a year ago
Did you see the price action? Half of bearish Candle is bought up by the seller. I am going to wait for one more candle to see if they are able to break below. If now, we are going up.
Reply
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