ErikXuanYan
Long

AUDUSD its time to buy or what!

FX:AUDUSD   Australian Dollar/U.S. Dollar
40 3 1
I am still learning this wave count thing, please let me know if I started in the wrong place, thanks!

snapshot
Howdy,
To my eye of Elliott Wave you've started in the correct place. The A of a triangle always starts
at the end of the first counter trend move. A common mistake I've seen is to start with the A at
the end of a trending move.
As I was looking at this: I would question this as a triangle. A triangle should have an internal
count of 3-3-3-3-3. In other words each wave a-b-c-d-e should show 3 wave each. In this 60 minute
chart it's rather difficult to see 3 waves for each. That has me thinking something else is working.
Thus a look at the larger degree chart shows this possibility. An A - B - C with C being a potential
ending diagonal. Depending how this finishes I'll give it a try. All things considered it is a bit to early
to really choose a wave count with high confidence.
Thanks for the chart !!!!
Wishing you a pocket full of pips ~~~~~~~~~~~~~~~~~~
snapshot
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dojitrader dojitrader
Well you can almost see what I was showing. I keep forgetting that the DAMN short position
tool always spreads it's numbers out and covers the good stuff. ~~~~~~~~~
Reply
IvanLabrie PRO dojitrader
It's a shame it does that on snapshots.

I do like the triangle thesis, or the abc, looks like it has pending upside, but not yet done correcting.
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