Elliottician_SamRoy
Short

AUDUSD: Is Aussie destined to fall for next couple of years?

FX:AUDUSD   Australian Dollar/U.S. Dollar
The short-to-medium term Elliott wave counts suggest that AUDUSD             may keep falling for next couple of months or even years given that price does not break the recent high of 0.78337. IFF this wave counting is correct, Aussie will provide us with some exciting short selling opportunities in 2017.
I will publish my Entry/Stoploss/Profit targets later in comments.
Happy Investing.. :)
Comment: AN ALTERNATE SCENARIO:
Remember the definition of Double three combo in Elliott Wave Principle?
"A double three combination is a sideways corrective pattern labeled W-X-Y.
Wave-W can form a ZigZag or a Flat but is usually a Flat
Wave-X can form any corrective structure but is usually a ZigZag
If wave-W is a ZigZag then wave-Y can form a Flat or a Triangle, if wave-W is a Flat then wave-Y can form a ZigZag, Flat or a Triangle. In any case, wave-Y is often a Triangle."
So wave-Y can also form a Flat where wave-c can form ending diagonal as mentioned in below chart. Keep in mind these possibilities. Happy investing...
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Comment: We have important fundamentals regarding AUD and USD today and tomorrow. If our outlook and wave labeling is correct, AUDUSD may get the reversal sooner.
Good luck and happy trades...
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Trade active: I am short from 0.77470. Current price is almost back to that price. Using tight SL to save my equity in case it moves in opposite direction. But if we are predicting it correct then rewards are even more than the ones mentioned.
Happy investing :)
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Comment: Hello guys. Did you short from the top when I mentioned it? Its 400+ pips already in profit. The wave counts for recent fall are little confusing at the moment so I will wait for some clear structure in order to label current price action and project the targets accordingly.
Always use trailing Stops. Good luck
Happy trades
Comment: Hi guys
It looks like we have got completed wave-i & ii of higher degree wave-3. Although wave-ii retraced only 38.2% of wave-i but it looks like completed and I am Shorting some more.
Conservative entry would be below the gray channel bottom line with SL above termination point of recent wave-ii.
Good luck and happy trades :)
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Comment: Hi guys
From previous entry, it first went much lower and then rallied to make it double zigzag. Fortunately SL didnt hit and now going all the way down to 1H time frame, it looks like we have another shorting opportunity with a very small version of zigzag. I am shorting some more with the SL above the end of wave-ii (in purple).
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Comment: AN ALTERNATE SCENARIO:
Guys, just to show you a warning sign of losing few pips from our bag, please keep in mind this alternate scene where the completion of wave-2 may happen a little above our current SL. Unfortunately, in this alternative scenario we dont have any defined SL near our entries but its very probable and makes sense because someone has to hunt the SL orders of traders above the latest high of 0.75071 in this volatile week.
Good luck !
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Comment: In above comment's first line, its not wave-2 but wave-ii. Sorry for typo.
Comment: Guys Volatility coming in some 30 minutes. Be very cautious and careful. Money management is THE KEY !!!
Good luck :)
Trade closed: target reached: Hello Guys
Congratulations on first Profit target reached with total of 2253 pips up in trading account :). 600 pips from the first position alone which we entered at the top. I am realizing profits for about 1500 pips and moving the Stop-Loss order in about 200 pips profit for the rest of the positions. You can see my live trades here: http://prntscr.com/dn1xuq
Please don't misinterpret here. I am not selling any course or membership program. I just want to show you that this is really possible provided the Right Education + Experience + Pro Trader's traits like Money Management and Patience etc. Please review my current thoughts about AUSSIE in below chart!
Happy holidays to all... :)
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Comment: Hi guys
AUDUSD has been consolidating for a long period and still not over yet. Although we earned successfully some 1500 pips from the recent down move (three waves down from 8-Nov till 24-Dec) but it is not unfolding in 5 waves down as expected but making a more complex correction before taking a clear trend direction.
According to my EW analysis, Aussie is unfolding in bigger W (flat)-X-Y (Triangle or Flat) as mentioned below:
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Comment: Hi guys
Aussie is moving down in wave-b as per our forecast. Please have a look at my 1H view. Good luck
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Comment: I usually don't trade the triangle thrust but if you wish to take this small risk high reward trade here you go. (mentioned target is minimum):
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Comment: Alright, it looks like wave-C of triangle-wave-Y is done.
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Comment: Hello guys. Aussie has perfectly followed the road map we had predicted for it. Now all the legs of triangle are in place and Aussie should move down from here. Trade can be entered at current level with SL above wave-C or even wave-A (better) but a more conservative entry would be outside the triangle when price tests its BD line.
Thanks to Johnm600 for reminding me to update this pair at this critical juncture.
Very good luck :)
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Comment: Complex corrections can be this complex but if you really ask me, this thing is not really complex on higher timeframe :)
IMHO, we should wait for Aussie to break below the wave-X to give a conservative short entry or otherwise give us enough bullish impulsive price action to prove bearish bias wrong.
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Hi Roy,
Hopefully we are at (Y)Y now for this wave 4 in the bigger picture, with a big drop to 5 to come.
Cheers
John
+1 Reply
@johnm600, i think the same bro. meanwhile u can check AUDNZD and/or EURNZD to catch a selloff. good luck :)
Reply
Hi Roy,
With the rise to 0.79 I'm wondering about a wave update.
Thanks in anticipation.
Cheers
John
+1 Reply
@johnm600, you are very persistent Johnm, thats a good news :)
Reply
johnm600 Elliottician_SamRoy
@Elliottician_SamRoy, Thanks very much. Cheers John
Reply
Hi SamRoy,
I will appreciate your count of this wave 3 down from 0.77 to your bottom estimate
Cheers
John
Reply
@johnm600, Hi. Actually I am working on Aussie but need more price action to confirm. As of now, I think the initial fall was not 5 waves but 3 waves down which could make it corrective instead of impulsive. But if I was right and the fall was 5 waves then we have 1-2, i-ii situation here which will lead to free fall in wave-3. Lets see what happens on volatility of NFP tomorrow. Good luck
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Reply
johnm600 Elliottician_SamRoy
@Elliottician_SamRoy,
I think it may have gone past the 1-2, i-ii situation, and wondering what you think now ?
Cheers
John
Reply
@johnm600, Actually i got some clues which clearify the picture, let me update and post soon :)
Reply
@johnm600, Hi Johnm, please check the last update:
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Reply
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