Hello everyone, i just closed my AU position after selling at at the end of intermediate wave 2 because i am expecting a strong pullback in the form of wave intermediate wave 4. It wont be a deep correction but rather a shallow correction by the rule of alternation. Also we have a butterfly pattern in this very area which is suggesting a pullback. We are only interested in selling this pair. Video analysis of this setup : youtube.com/watch?v=OD36MIeDWsE
This thing is not giving up and rolling over without a fight it seems though your chart looks right on! Very nice analysis!! Any updates at this point and what is your target?
AkashGaur
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@Paul79, Thankyou for the feedback. I dont give exact targets over i have a private trading group for that purpose. If you're interested you can DM for the details
FX4trade
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Hello Fxtoronto,
Do you think it will retrace that much? Wave E has been retracing to 23.6.... thank you for your inputs.
AkashGaur
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perfect count guys
johnm600
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Hi there.
Are you confident of your wave 3 of 3 ?
EW suggests an impulsive wave.
Yours appears to have a very long corrective section.
AkashGaur
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@johnm600, Well the whole idea is to sell from top since wave 3 can further go down and that would mean that my count is in-correct
albertos
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Long at 0.7200
AkashGaur
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@albertos, not considering any longs especially when the overall trend is bearish