AUDUSD, bouncing back

Hi Traders,

The AUDUSD (now at 0.8915) seems to be ready for a temporary rally to 0.9220 or higher.

TARGETS

likely: 0.9195-0.9220
possibly: 0.9343-0.9389
maybe: 0.9400

ELLIOTT WAVES

The pair has completed 5 waves down in each time frame (daily, 4-hour and 1-hour charts). If this is true, the rule of "multiple five in multiple timeframes" is respected and we expect a reversal.

This is confirmed by the channels being touched 4 times in the daily chart and 4-hour charts.

HOWEVER

The "reversal candlestick" in the 4-hour chart is not very convincing and the market might try to stop you out before shooting up.


WAVE OSCILLATOR

Hence, enter your trade only when you have a valid cross of the 2 black lines in the daily or 4-hour charts.

Remember to place your "trailing stop" according to the "instructions" from the wave oscillator. 

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over the daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over the 4-hour chart - click to enlarge

1-hour chart - click to enlarge 

wave oscillator over the 1-hour chart - click to enlarge

OIL rally

Hi Traders


The WTI OIL (now at 97.37) is staging a correction to $100.29 or higher.

TARGETS

likely: 99.17-99.56
possibly: 100.29-101.04
maybe:101.98-102.17

ELLIOTT WAVES

We are witnessing a "two-steps pattern", a 1-2-3 correction upwards (4-hour chart). Then the downtrend should resume.

Weekly chart, click to enlarge

 Daily chart, click to enlarge

Wave oscillator applied to the daily chart, click to enlarge

4-hour chart, click to enlarge

wave oscillator applied to the 4-hour chart, click to enlarge

1-hour chart, click to enlarge

wave oscillator applied to the 1-hour chart, click to enlarge

GOLD, almost there

Hi Traders,

GOLD should perfom a short rally to 1238-1244 to  complete wave 4 (1-hour chart) and then resume its way down to reach the last low of the year around the area 1212-1179 (1-hour chart).

If it doesn't breakout the support at 1179 a new uptrend should start to 1400 as a minimum.

TARGETS:

first: a short rally to 1238-1244
then: a new low around the area 1212-1179

after that, new uptrend to:

likely: 1400
possibly: 1475
maybe: area 1522-1530

ELLIOTT WAVES:

The daily chart shows that the small wave 5 (bottom right in green) is not complete. Once it's completed the new up trend should start.

NOTE:

If the small wave 5 moves well below the support at 1179 (1-hour chart) the new uptrend should not take place. Instead, the downtrend might continue to 1012 and lower. 
  

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over the daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over the 4-hour chart - click to enlarge

1-hour chart - click to enlarge 

wave oscillator over the 1-hour chart - click to enlarge