Elliott Wave Simple

[LivetoTrade]

Here is my short or medium term Aussie update, depending on how you trade...................According to all of the things that I track, then the Aussie is going down soon..........It looks like we have just completed an Elliott Wave A,B,C corrective pattern.............This means that this pair will be going down hard very soon.........

Dave, if it is not asking for too much, could you please post a chart indicating the A,B,C pattern.

We will then know what to look for next time.

 

[LivetoTrade]

Dave,

Can you open a Demo account with GCI / XTB, and give us your views on Nifty from the EW perspective.

 

[JahDave]

I will say that I shorted the AUD_USD on Thursday night because this should be a pretty large reversal. If this goes up to 1.2115then I am wrong. Going along the lines of my title, Elliott Wave Simple, then you should notice that the last move down was sharp and the move up is gradual and much slower............add this to the chart and I am convinced that this pair is going down the next 2 weeks.............

 

[hills_5000]

THis is on a 5 min chart ..???

Could you please quantify that ?

I will say that I shorted the AUD_USD on Thursday night because this should be a pretty large reversal. If this goes up to 1.2115then I am wrong. Going along the lines of my title, Elliott Wave Simple, then you should notice that the last move down was sharp and the move up is gradual and much slower............add this to the chart and I am convinced that this pair is going down the next 2 weeks.............

 

[4xpipcounter]

Dave, I'm agreeing with you. It falls in line with many of the Aussie crosses. The EUR/USD is getting ready to move north, which also falls in line with the EUR/AUD getting ready to move to the moon.

Are you implying that by your 5-min chart that you are seeing the longer term drop?

I will say that I shorted the AUD_USD on Thursday night because this should be a pretty large reversal. If this goes up to 1.2115then I am wrong. Going along the lines of my title, Elliott Wave Simple, then you should notice that the last move down was sharp and the move up is gradual and much slower............add this to the chart and I am convinced that this pair is going down the next 2 weeks.............

 

[JahDave]

Sorry for the long delay for a post but here is My Aussie update. This will go up to the 1.04 or 1.0450 and then it will go down for a large move. I am attaching my daily chart.

 

[4xpipcounter]

Dave, just to show our similarities again, here's my view from the WEekly Forecast:
AUD/USD: As of this writing, the WS1 at 1.0253 was hit. Provided it contains, then we will have one last leg north, as from that point the R zone from 1.04451.0495 will be hit this week. If it is pierced convincingly then we head to the WS2 at 1.0189, and the broad range consolidation continues.

Sorry for the long delay for a post but here is My Aussie update. This will go up to the 1.04 or 1.0450 and then it will go down for a large move. I am attaching my daily chart.

 

[JahDave]

Watch the AUD_USD hourly chart. If this pair makes a new low then that will be a 5 wave move down from an Elliott Wave perspective. This will mean that on the next larger scale then we should see an ABC correction to the upside and then a very large move to the downside. If this pair can't make a new low then this pair should make one more move to the upside. I think the first scenario is the most likely.

Good Trading,
JahDave

 

[4xpipcounter]

Alright! He's back!
As always, you're all over that Aussie. I wonder if Romeo has anything to do with that.

 

[rajesh.sadhanala]

Dave,

We had discussed about AUDUSD to lows of 0.90's. Are you still looking at that lows again? Last time, we are discussing about the wave 5 but market had consolidated and moved higher..

Regards
Raj