IvanLabrie
Long

EURAUD: Go long during wave C

FX:EURAUD   Euro Fx/Australian Dollar
2 years ago
The chart is clear, EURAUD             is in an uptrend after completing wave B of a an apparent ZIGZAG correction, which fits the fundamental landscape surrounding the gold             and RBA situation, as well as Tim West's time at mode methodology.
Buy now with a 2 atr stop, target is lofty but achievable in this timeframe.
I'll post scale in opportunities.
Good luck!
a year ago
Comment: Target should be hit by the end of the year.
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HiTech PRO
2 years ago
I don't see any trend there yet Ivan, the daily must close either above or below resent high or low... for now it hit my upside target
EURAUD INVERTED HEAD AND SHOULDERS
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HiTech PRO HiTech
2 years ago
EURAUD INVERTED HEAD AND SHOULDERS
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IvanLabrie PRO HiTech
2 years ago
There is a reason I posted this, the fundamental backdrop fits with my time at mode analysis, and also fits nicely with Elliott Wave.
2 atr stop places it under a strong support, and gives an amazing risk/reward ratio.
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HiTech PRO IvanLabrie
2 years ago
Interesting... will follow
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jangseohee
2 years ago
important neckline
snapshot
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IvanLabrie PRO jangseohee
2 years ago
This long is your long term channel overshoot before gold reverses...
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jangseohee jangseohee
2 years ago
so after a week, price found the neckline and bounce up
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Ozayevable
2 years ago
problem is the C of your B is in 3 waves as well, so id say we are more likely still in wave b, and after some rally further drops shall follow. imho.
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IvanLabrie PRO Ozayevable
2 years ago
That's why the stop is so wide, it's not likely to go below 1.3584.
The EW analysis is secondary, my main tool is time at mode.
This complements my usdjpy short and eurnzd long. Part of a balanced currency portfolio to be ready for multiple scenarios.
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HiTech PRO
2 years ago
I have confirmation now on euraud and eurcad long, will share my ideas later
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IvanLabrie PRO
2 years ago
Gold going up will send this pair slightly down, but it will eventually help if the RBA decides to cut rates to offset the renewed AUD strength.
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IvanLabrie PRO
2 years ago
Update, potential ending diagonal wave c inside of B (which looks like a flat).
Wave C up should complete the zigzag in a strong impulse as expected.
Only problem is I might get stopped here...We can also get out now for minimal loss and re-enter after completion of said diagonal triangle.
snapshot
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HiTech PRO IvanLabrie
2 years ago
Your price target is very large to say the least, but pair could be reversing indeed
EURAUD TURNING POINT
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HiTech PRO HiTech
2 years ago
we need to break above the upper downtrend trendline, then it will be more clear
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jangseohee HiTech
2 years ago
i believe your Target 2 red line there is the monthly downtrend line?
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HiTech PRO jangseohee
2 years ago
It is daily
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IvanLabrie PRO HiTech
2 years ago
It's not large, it's an objective price target based on larger timeframe information, time at mode price and time projections, geometric proportion or even Elliott Wave Theory.
Has to be eached by June 4 IF we are to reverse from the a-b low and cross resistance above for a month.
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HiTech PRO IvanLabrie
2 years ago
But there are so many factors that can interfere with that over the time, thats my point
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IvanLabrie PRO HiTech
2 years ago
I know, but my long term analysis factors information from a long time ago, and pits it against shorter timeframes, as well as fundamental analysis, so I do believe I am right here.
We will see over time, but I trust my analysis.
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IvanLabrie PRO IvanLabrie
2 years ago
What's important is navigating the different scenarios after deciding on a possible pathway, if proven wrong, I can more or less figure out what can happen and act accordingly. My focus is capital preservation and making money, not just forecasting and trying to be right everytime.

Example eurjpy, the downtrend may have completed a decline and will probably correct now, despite me expecting lower prices sooner. I did make money on the way down and got out when I recognized things were changing.
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jangseohee HiTech
2 years ago
“You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it becomes the teapot. Water can drip and it can crash. Become like water my friend.” from my all time favorite - BRUCE LEE
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IvanLabrie PRO jangseohee
2 years ago
All hail the master...a great philosopher, writer and inspiration, not only a guy who kicked arse.
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IvanLabrie PRO IvanLabrie
2 years ago
Plan is getting out at wave 4 of c of B and getting back in once wave 5 is reached.
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jangseohee
2 years ago
price is currently stuck in-between my neckline and mid-term lower channel line
snapshot
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NickCoulby PRO
2 years ago
Great outlook Ivan.. Would rather be rich vs. right and using analysis that allows you to profit from whatever materializes is essential.. Trading > forecasting
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IvanLabrie PRO NickCoulby
2 years ago
Indeed sir, thanks for stopping by.
Getting out at that potential ED c wave's 4th seems reasonable I guess.
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IvanLabrie PRO
2 years ago
snapshot


If long, I'd suggest closing partially at the top wedge trendline.
If not long, maybe waiting is in order.
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HiTech PRO IvanLabrie
2 years ago
I am out of my euraud trade, just look at gbpaud, would probably continue much further.. yes eur is stronger than gbp now, but it might only result in a range trading for now
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IvanLabrie PRO HiTech
2 years ago
We'll see.
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HiTech PRO IvanLabrie
2 years ago
definitely :)
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IvanLabrie PRO IvanLabrie
2 years ago
Potential boost in this pair after the eurusd correction is over, and audusd resumes downtrend.
Interesting that audusd outperformed nzdusd, which is a key factor in why I didn't suggest an audusd short (even though it looks like it's about to proceed with wave 5, there's no clear setup per my methodology).
This trade has excellent potential but will take a while to give us the perfect entry.
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IvanLabrie PRO
2 years ago
snapshot


Current EW interpretation, for what it's worth.
I expect a bullish swing completion for the time being.
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IvanLabrie PRO
2 years ago
Stop already at break even.
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IvanLabrie PRO
2 years ago
Strong accumulation base makes suspect a bull move.
snapshot
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IvanLabrie PRO
2 years ago
This is extremely optimistic probably, but it's looking really bullish as of late. Watching for a second entry.
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HiTech PRO IvanLabrie
2 years ago
Interesting, I am preparing my idea right now, here is the outlook
snapshot
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IvanLabrie PRO
2 years ago
snapshot
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IvanLabrie PRO
2 years ago
Looks like we've seen A of 5 down, part of the ending diagonal triangle in my chart.
I'm not sure the labeling is correct, but I'd like to sell the retracement that will happen now.
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IvanLabrie PRO
2 years ago
snapshot
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IvanLabrie PRO
2 years ago
Still waiting...
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