What we love about Elliott at Rykin Capital is its seeming utility in all kinds of markets. From Crypto to stocks to FOREX to futures to other derivative types. It is the only system that incorporates the analysis of the fractal nature of markets. And it appears of all markets at that. The system is so powerful that we cannot imagine analyzing any market without it. We do accept Glenn Neely's additions to the theory as canon. When you think you have described the fractal nature of the markets, it appears new frontiers in fractal market analysis emerge that beg further study. And it makes sense - fractals are, after all, forever changing and evolving beasts.
But back to USD AUD - Dropping momentum post what appears to be a Wave A of a forming zigzag. It is highly likely that we will continue to find lower ground over the coming days given this picture.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
But back to USD AUD - Dropping momentum post what appears to be a Wave A of a forming zigzag. It is highly likely that we will continue to find lower ground over the coming days given this picture.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: target reached:
8th OCT - first one.