Several possibilities of trades in each direction, also I talking about very important rules of the Elliot Wave Theory:
Impulse wave definition
corrective wave definition
leading diagonal definition
alternation rule by Elliot Theory
Please make your self comfortable and enjoy, if you have any questions or enlightenment, please comment and...
In today's #marketinsights video recording I analyse #fxmajors #audusd, #gbpusd and #eurusd.
They are all under pressure for different reasons:
- ECB's Lane dovish on ECB's inflation target
- Italian CPI weakening
- BoJo goes to Brussels empty-handed
- Brussels not sure if extension will help
- RBA reveals plans to cut more if necessary
checking back in after last nights video. Had one winner (KEYBTC) with a nice 15% profit. MFTBTC im still looking at... probably on wave 4 still idkkk. still new to elliott waves so if you have any advice/tips.... shoot 'em!
Short Term Trading Strategy
Looking to move upside in C-wave next for 200-250 pips & hitting the resistance zone in 0.7500 - 0.7525 zone
Key Support Zone - 0.7220 - 0.7220
Critical Support Zone - 0.7165 - 0.7175
Safe Traders Kindly Do not trade below 0.7200 & Risky Traders can consider long trades above 0.7165. No one trades long position below 0.7165...
AUDUSD will have a retest of support area where AUDUSD last consolidated. I am keeping my eye on this area due to the potential move in the near future. The chart i am looking at is the weekly , so this will take time to play out.
Watch as I explain some basic Elliot Wave Concepts of Corrective Formations and anticipating the next waves. I Also breaks down the idea of an IF-Then-Thought-Process using Elliot Wave and reacting to price.