FX:AUDCHF
Structure breakout.;
Eventual Bullish Gartley above projected cluster. Wait for price action to build structure.
GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD
Safe Trades;
Triangle or a ZigZag combination. Time will tell. But for the moment all is looking good for a long upto the upper trendline. But we need a small correction to enter the trade. Lets hope we get a good one to enter with confidence.
Thanks to Mr. Anil Mangal's Chart update I have been looking at this chart since he posted it.
confirmed buy for me as per elliot wave - Wave 3 Started.
Bullish MACD divergence
Higher Low
The latest downtrend for AUDCHF has run since August 2012.
A measured fib move on the weekly shows that price has hit 1.618
early this month (Sep 4th)
Price is moving in large choppy swings here on the 60 min chart
but is now heading towards 0.6930. A bounce there is to be expected
but I expect price to try to break and clear that level.
As that is done I...
