Hi Traders,
Before getting into the analysis of AUDUSD let's check some news.
I'm running some free webinars and free seminars (see below). To register click the links below.
OCTOBER CALENDAR
Before getting into the analysis of AUDUSD let's check some news.
I'm running some free webinars and free seminars (see below). To register click the links below.
OCTOBER CALENDAR
- Monday 14 October - Free Webinar (8-9pm, Sydney time) or check the button (next free webinar)
- Monday 28 October - Free Webinar (8-9pm, Sydney time). I don't have the link to this webinar yet.
- Thursday 31 October - Free SEMINAR (6-8pm, Sydney time) or check the button (next free seminar)
All this powerfully organised & hosted by the mighty City Index in Sydney.
- Monday Nov 11 and Tuesday Nov 12: ELLIOTT WAVE BOOTCAMP, (16 hours) in a venue to be confirmed soon.
At this BOOTCAMP you will be taken on a journey through the identification and practical use of Elliott Waves.
You will be able to:
Your approach to trading will change forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!
- recognise & label each wave properly
- predict the direction of new trends
- correctly identify the starting point of new trends
- determine targets
- identify Entry and Exit point in daily, 4-hour and 1-hour charts.
Your approach to trading will change forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!
If you want to be part of it call Richard Vatner +61(0)2 9270 3618 and mention "MDC" (Mario D. Conti) or leave a message.
...
FINALLY,
I set up a trading account where I place the trades I suggest. I'll keep you posted.
...
THE ANALYSIS: AUDUSD double top
TARGETS
likely: area 0.9385-0.9382
possible: 0.9358-0.9349
maybe: 0.9237
ELLIOTT WAVES
It's hard to believe that the retracement of wave 1 (from point d - in magenta - to point 1 - in red) in the weekly chart is complete unless the US dollar strengthens tremendously in the incoming days.
At present I prefer the solution of an Aussie retracing a bit to 0.9237 with an a-b-c (daily and 4-hour chart) and then heading back to 0.97 in 5 waves.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
wave oscillator over daily chart - click to enlarge
4-hour chart - click to enlarge
wave oscillator over 4-hour chart - click to enlarge
1-hour chart - click to enlarge
Hi Traders,
AUDUSD performed a double top on the 4-hour chart. It seems to be heading to 0.9237.
TARGETS
likely: area 0.9385-0.9382
possible: 0.9358-0.9349
maybe: 0.9237
ELLIOTT WAVES
It's hard to believe that the retracement of wave 1 (from point d - in magenta - to point 1 - in red) in the weekly chart is complete unless the US dollar strengthens tremendously in the incoming days.
At present I prefer the solution of an Aussie retracing a bit to 0.9237 with an a-b-c (daily and 4-hour chart) and then heading back to 0.97 in 5 waves.
NOTE:
If a temporary rise of the "debt ceiling" is agreed by the American Congress but its NOT followed by a definitive agreement within Nov 22, The FED might be attempted to sell some gold to pay the debts, with devastating effects on commodities and currencies.
BTW: so far there's no "sign" of such an event in the charts.
BTW: so far there's no "sign" of such an event in the charts.
ENTRY: entry around 0.9443-47 but wait for a signal of the "wave oscillator" - in the 1-hour chart - before getting in.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
wave oscillator over daily chart - click to enlarge
4-hour chart - click to enlarge
wave oscillator over 4-hour chart - click to enlarge
1-hour chart - click to enlarge
wave oscillator over 1-hour chart - click to enlarge
