MrTD
Short

Elliott Wave forecast possible short signals for AUD/USD

FX:AUDUSD   Australian Dollar/U.S. Dollar
Hi Traders,
I am new at this wave trading and find the forecasting of direction and retracements fascinating!
Being new, I will probably have some of the wave labels wrong, but I am not so worried about getting them perfect, so please don't be so pedantic as to correct every detail.
If you have a different "idea" using waves & Fibos, feel free to show a chart so we can all learn together...
I am certainly not claiming to be a guru or trying to become one, just wanting to be part of a community where we can all learn without having to fork out precious cash..

So, as I see it, we have the end of a correction, which would mean the beginning of a trend... exactly where we want to trade!
The first wave is almost complete with 5 waves (in blue), so wave 2 should be a retracement almost back to the broken structure line and the perfect place to enter short.
In a perfect world we should see another 5 waves (yellow) for wave 3 (green) which means a lot of pips!
Let's see how it pans out!
Nice count, I do agree with you, looking for sell rallies to sell:

AUDUSD Analysis
Reply
MrTD Piet.Hein
Hi Piet.Hein, Thanks for your comment and chart!
Great! No indicators :-)
I note that many use divergence of oscillators to warn of pending trend change. The problem is that they don't tell you when the trend is going to change.. That is like me telling you there is going to be an earthquake this year... It is probably correct, but the information means nothing without a time or place.
Oscillators must return to their zero level and as we all have learned through experience with the Stochastic for example, it will start heading down in the middle of an up trend, so showing divergence way too early to be of any real value.
So chart patterns and Elliott waves measured with Fibo's seem to me to be an accurate way to forecast trend changes..
Looking forward to a new week trading...
All the best with your trades!
Reply
pleasure share and chat with traders. I do like naked trading, as you said, it can really give a good entry! Also is very good to forecast and have a good timing. Elliot waves is also very good, I count but not so often :p But I need to confess that I check sometimes with Stochastic, MACD and RSI. However nothing like S&R, trendlines, candlestick and chart patterns to make a trade. Thanks, the best with your trades too :)
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thanks and nice count, like what i see on my chart..
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Hello TD,
Looks like you have picked the triangle nicely.
In the bigger EW picture I wonder if you agree with me ?
2011 to May 2013 ???
to Aug 2013 wave 1
to July 14 wave 2 abc
to Sept 15 wave 3
to 24 Dec 15 wave 4 abcde
now in wave 5 = wave 1 so I expect about 0.6 as the end.
Reply
MrTD johnm600
Hi John,
Thanks for your comments, they are most welcome.
Please post a chart to show your idea so we can all see exactly what you mean...
Yes the bigger picture is always important and does need to be taken into account too..
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