FX:AUDUSD   Australian Dollar/U.S. Dollar
2928 30 170
a year ago
This pattern could break both way. If the first leg down is an "a" wave impulse to down side then it will break to down side, if the first move down is an 'a" wave in a 5 wave wedge (abcde) or three wave flat (abc) then we go up. In any case buy the or sell breakout .
Personally I am a bit bias to down side.
Use a tested strategy to trade and good money management.

Follow me for more up date on this and more.
a year ago
Comment: AUDUSD is in a consolidation, no longer making a triangle , i will wait for more development to decide which direction the consolidation will breakout
a year ago
Comment:
snapshot
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gilbarbosa
a year ago
Thanks Anil for sharing your knowledge with us!
+2 Reply
Cazzie
a year ago
I feel this pair is down - Anil.
Mind you, it maybe because I'm selling it.

No it really is down..
+1 Reply
anilmangal TOP Cazzie
a year ago
LOL, i like you enthusiasm but i like to get confirmation before i take a trade
+5 Reply
Cazzie
a year ago
Ahh yer, I understand, And you're quite right :)
+1 Reply
MILAD-FX-26
a year ago
hello anil my agree
thank you.
AUD---USD =  SIGNAL 1-SELL&2-BUY
+4 Reply
anilmangal TOP MILAD-FX-26
a year ago
nice
+3 Reply
Uran0s
a year ago
Personally I think It will go down, but need a confirmation breaking minor trendline:
AUDUSD - possible downward move


For now, it may go both ways, stay away until it's confirmed.

Good call Anil.
+1 Reply
rlong9500 PRO
a year ago
Thanks for the weekend webinar
+1 Reply
johan.verm
a year ago
Possible scenario....Just an idea folks....
+1 Reply
johan.verm johan.verm
a year ago
Could be.... ;-)
+1 Reply
IvanLabrie PRO johan.verm
a year ago
That's a very strange way of drawing a Wolfe Wave pattern. Do you have working examples of this? I haven't seen people draw it like that.
+1 Reply
johan.verm IvanLabrie
a year ago
https://blog.forex4you.com/trading-with-wolfe-waves/
Reply
IvanLabrie PRO johan.verm
a year ago
That's the standard construction yes. Site is yours?
I find odd that the start of point 1 is so far in your chart, and that you appear to consider the smaller WW inside part of the same structure as that big 1.
Reply
johan.verm IvanLabrie
a year ago
Its not a correct one on the chart but i used the 3 spikes (upper and lower triangle lines)...So its a combination....Sometimes it works out..And like this you have a clue for direction,long or short... Also in combination with MA's...The hardest part is finding the point (EPA) where price will end at last...I'm still learning to find out....
Reply
IvanLabrie PRO johan.verm
a year ago
I see, it's a more discretionary approach. Can work, depends on your style.
I prefer more objective, rules based and systematic analysis methods. I also need a mechanical way of staying in and knowing where to get out, otherwise my personality gets in the way.
We're all different, so we need to find our own edge in the systems that we choose.
Cheers!
Reply
johan.verm IvanLabrie
a year ago
Good luck to you ! I follow you...Will trade more longer timeframes in the future but lower are good to learn ...Like you said ,finding our own edge in the system...
+1 Reply
IvanLabrie PRO johan.verm
a year ago
Yes, the key is finding the market type, wether trending up, down or sideways.
Depending on your methodology, you will find an edge in any of these conditions.

No systematic trading strategy will work for all conditions. Elliott Wave can, to a certain extent, same as time at mode and the techniques that I learned from Tim West here. But, you need to know which entry strategy to apply, as well as which exit, to be succesful, and this comes from understanding the structure, which is after all, how we determine the market type.

People claiming to have a holy grail system, specially automated trading, are full of it. You'd need to tailor it for a specific market type, there's no way around it.
Reply
IvanLabrie PRO
a year ago
Lower momentum low, higher low...yes, first impression is triangle.
It would be a B wave, judging by size/timing. If not, it's wave 2 and it's a flat or some other structure, and would take a couple more days to end.
Wave 1 starting from where you drew the fib.
+1 Reply
Thanks for the sharing Anil, currently approaching my sell area.
snapshot
+2 Reply
MakisMooz ForexTradeIdeas
a year ago
Look bottom at your chart at the indicator. A double low bottom has formed.
Reply
ForexTradeIdeas PRO MakisMooz
a year ago
What is a double low bottom mean?
Reply
AbdullahYunus
a year ago
I think It will break to downside till 0.7171
+1 Reply
KVE PRO
a year ago
Very good! I'm still favouring the downside, but that's only because I'm short already...
+1 Reply
marcello1111111 KVE
a year ago
do you think it's still short?
+1 Reply
Now the price is breaking down, if the price close like this, do you think it's a good moment to sell? thnx a lot!
+1 Reply
msalotto PRO
a year ago
Hi! Anil any update on this AUDUSD, looks like its broke below the lower channel. Should we sell now or wait?
+1 Reply
Thelearner
a year ago
I hope it goes down, looks like it based on the macd
+1 Reply
Cazzie
a year ago
Appreciate your update Anil.
+1 Reply
MakisMooz
a year ago
A new small w formed inside an unfinished big W.
+1 Reply
MILAD-FX-26
a year ago
VERY VERY GOOD THANK YOU
+1 Reply
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