AUDUSD -1150 pips+ Wave Battle goes on!

From lows@0.7532 - We got twice opportunity of picking the pair in the zone 0.7550-0.7555 for 0.7630 target level which was corrective so we must say- "what a pick@0.7555"

Previous Update - 850+ pips - what a pick@0.7555

Long term wave update@0.8065

Finally selling below 0.7650 with all twist n turn in between & making 150-160 pips till 0.7520 - position closed. We are looking for bullish setup & watching price action closely.

Move next above 0.7520 shall be initial clue for target levels 0.7650 - 0.7725 - 0.7890 & holding 0.7500 below as support - once crossed above 0.7555 - our favorite level is the 2nd confirmation to tell us that pair is looking for higher levels as mentioned above.

Trade active:

22:52 Hrs 10th Dec2017

Last Price@0.7507

Struggling between 0.7500-0.7535 - Minor double bottom@0.7501 - looks like more chances of downside pierce but very critical for upside so we need to be careful as any dip below 0.7500 for new lows & bounce above 0.7510 can be bear trap.
Traders can take short position holding below 0.7510 once it breaks 0.7500 downside but be careful to trail the stops once at cost so in later session if it bounces upside above 0.7510 -it won't hurt you & we plan for long trades in later session.
Happy Trading Week Ahead.

Trade active:

18:20 Hrs 11th Dec2017

Last Price@0.7529

Key level@0.7500 is still intact & formed small double bottom, once it crosses 0.7550-0.7555 zone - pair will have strong footing for more upside. Having said that - 0.7500 will become critical level for next few trading sessions.

Trade active:

14:23 Hrs 12th Dec2017

Last Price@0.7558

Crossed upside above 0.7550-0.7555

Zone of 0.7550-0.7555 is important for next few sessions- we will stay in long position if it holds above that zone else below that zone we will book partial profit & be out as break downside below 0.7500 will be important for continuation of downside move

Trade active:

20:59 Hrs 12th Dec2017

Last Price@0.7552

We shall book our 50 pips profit& out of the long trade. Looks like pair has put 0.7580 as short term top- so if that level is intact on upside - we will look for push upside to join sell on bounce for targets downside 0.7500 later & stops above 0.7580 high for upcoming sell as suggested.

Trade active:

21:11 Hrs 12th Dec2017

Last Price@0.7548

Keeping 0.7580 intact on upside / stops upside for sell on bounce

Trade active:

07:45 Hrs 13th Dec2017

Last Price@0.7570

So, we got the bounce close to previous high@ 0.7580 - session high@0.7570

Once again 0.7555 was halting point in between which indicates how important that level is which I have been talking about.

Next, going below 0.7555 there could be selling opportunity for safe traders & risky traders if they can afford to put stops above 0.7581 & take sell for targets downside.

Trade active:

15:10 Hrs 13th Dec2017

Last Price@0.7560

Awesome - Turns from 0.7580 - Risky Traders Stop Loss@0.7581

Trade active:

18:56 Hrs 13th Dec2017

Last Price@0.7572

Again halts in 0.7550-0.7555 & bounces upside. Just indicating how important zone of 0.7550-0.7555 is.
Any break below that zone will be bearish.

Trade active:

19:05 Hrs 13th Dec2017

Last Price@0.7598

0.7550-0.7555 - Indeed an important zone - breaks above 0.7580 highs

Trade active:

19:09 Hrs 13th Dec2017

Last Price@0.7600

Next Hurdle could be 0.7650-0.7655 upside - looks bullish.

Trade active:

23:29 Hrs 13th Dec2017

Last Price@0.7606

Book your profits if starts trading below 0.7600 mark.

It could spike upside but be careful as any sustained trades below 0.7600 & later 0.7555 shall be bearish & Pair could fall well below 0.7500 - In that case we will take this structure as A-B-C. C- wave has a question.

Trade active:

07:12 Hrs 14th Dec2017

Last Price@0.7665

Good Morning!

Holding 0.7600 on downside as key level & 0.7555 -critical level- pair is moving in north direction. We will hold for more upside till we see some clues for ending this upside move.

Trade active:

19:37 Hrs 14th Dec2017

Last Price@0.7655

Upside rally from 0.7555 -our favorite level to 0.7675 if retraced 38.2% comes to 0.7628 where pair can take halt - if it takes halt /support then we look for new highs above 0.7675

Trade active:

20:55 Hrs 14th Dec2017

Last Price@0.7652

Below 0.7628 which is 38.2% retracement - next level of support is 61.8% which comes @0.7599 -0.7600 - key zone for pair to take support & push upside for new highs above 0.7675

Trade active:

11:10 Hrs 15th Dec2017

Last Price@0.7670

Not getting any meaningful retracement & current price move has suggested that there is a triangle which could be forming between 0.7680 - 0.7650

Next we look for breakout above 0.7680 for targets 0.7695 - 0.7729 holding 0.7650 on downside means any move below 0.7650 can be initial bearish impression next.

Let us assume that pair jumps above 0.7680 then be cautious to trail your stops below 0.7650 as it can be a volatile session going above - touching the target levels mentioned above & later falling sharply down below 0.7650 mark.

Key Support Level - 0.7650
Critical Support Level- 0.7599
Key Resistance Level - 0.7680

Trade closed: target reached:

14:24 Hrs 15th Dec2017

Last Price@0.7688

We got 200 pips from the bottoms of 0.7500 - Minor Double Bottom with all twist & turn.

Touched exactly 0.7695 as suggested earlier - 25 pips from 0.7670 - Be cautious as per the update.
Going Below 0.7650 - Structure can signal of completion.

Comment:

22:17 Hrs 15th Dec2017

Last Price@0.7646

"Has The Bear Game Started - Right in the block Hole@0.7695"

Have a nice weekend.

Trade active:

22:20 Hrs 12th Dec2017

Last Price@0.7647

Picture before the weekend from the tops@0.7695