AUDUSD Potential Elliott Wave third wave trade

FX:AUDUSD   Australian Dollar / U.S. Dollar
Elliott wave's principle is that the market moves in waves. In a mouvement, there is 5 waves or impulses.

Here with AUDUSD             , there is a clear double bottom reversal ending the bearish trend we were in for a few years. After the double bottom , we saw the first wave already completed and right now we are in the second wave, which is a corrective one. We should begin the third wave soon and right now AUDUSD             is trading at the 50% fibonacci retracement , the 100 days moving average and the span B of ichimoku's kumo cloud.

To me this looks like the perfect setup to trade the second wave, which is the institutional wave and the longest wave of the 5.
Hi, you have misunderstood the most basic of the Elliott Wave tenets here.
You labeled the low as 1.
Maybe redo the chart?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out