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Looking at a weekly chart, we appear to be holding support while finishing the 3rd corrective wave following a successful 5 waves up starting back in 2015.
Medium term, this appears to again be a buy and hold
There are 3 different ways that I see to label this wave down coming out of the correction. But either way, I don't see it as being in a running flat, but an ending diagonal to retrace. There is a very big demand zone here. I circled the 78% fib because I think that a good place to set a buy limit if it doesn't change its structure and it reaches it. it's breaking ...
You might have to look at this for a little bit to see what I'm saying. I'm simply illustrating that Silver is still on its "B" wave. The reason I say this is because, after our "W" of the larger degree, it has been in what seems to be an obvious corrective swing pattern. It broke the equal length-1.236 extension of smaller wxy pattern (which should not be ...
AUDUSD has made a very nice daily down impulse, but the momentum is dying out. There are the different degree of divergences in 1D, 4H, 1H and 15m timeframes. That's why I believe that the down impulse is about the end. The small up move in 15m which can be the reversal impulse broke the 15m trend-line (yellow) and now a correction is in the ...
AUDNZD possible markup
Price completed a 3 wave structure with an obvious divergence.
This structure isn't a sustainable uptrend and it's calling for a fall, or at least a potential retracement towards 1.5960 area.
What can be the catalyst for such move?
Another impending EUR crisis?
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter ...
We waiting for the price to bounce on the back of the trendline to complete the 5th Elliot wave
The Bars pattern you see is taken from Audchf. Just pointing out that I think AJ did a 5 wave up, then it did 3 waves (which looks like it is a 5 wave because it is breaking the low but it is very corrective and could just be about to go on a "C" wave.) That is the 200MA on weekly. (Refer to WTI crudes recent pattern for comparison on concept) It is in a downtrend ...
AUDUSD ended the cycle from 08/21/18 peak (0.7383) at the low of 09/03/18 (0.7166) in black wave ((w)). The internals of that move unfolded as an Elliott Wave ZigZag structure, which it ended blue wave (a) at 08/23/18 low (0.7238), blue wave (b) pullback at 08/28/18 peak (0.7363). From there it ended blue wave (c) of black wave ((w)) at 09/03/18 ...