Forex Forecast

AUDUSD Analysis – Keeping The BIG Picture In Mind!

AUDUSD Analysis – Keeping The BIG Picture In Mind!

Now in a strong Downtrend. but do not forget It’s Still A Correction! AUDUSD has been seemingly falling strongly in a new strong downtrend and it’s. but is this the resumption of the major overall downtrend? in order to understand why it’s falling and figure out where it could probably finish, we must understand the big picture of what’s happening in AUDUSD. For that, let’s go to the charts.

WEEKLY CHART From June, 2014 until January, 2016, we saw AUDUSD fall over +2600 pips. From my Weekly chart of AUDUSD you see here, I have labeled that drop a completed wave (3). to understand why I see it as a wave (3), you’d have to see my Monthly wave count. Well, if that’s the correct count, then what we ar seeing now is the wave (4) correction. And what we know about corrections is that more often than not, {they ar|they’re} quite complex! and they are made up of three waves.

Waves A and C of any correction ar impulsive waves themselves. but the wave B is itself a complex corrective wave created up of three waves also! additionally created up of three waves. 2 impulsive and one corrective! Why am I explaining this? because following this logic, it is simple to see what’s happening right now! it’s now falling inside the wave C of the larger wave (B) correction! And what do we know about wave C’s? they’re the corrective wave equivalent of the wave 3 in an impulsive wave! they’re usually strong moves! and that is what we’ve got here. there’s additionally a possible Bat that’s in play here with that wave C of (B) being also the CD leg of this Bat. What that indicates is that likely we ar going to see much more downside to go yet in this drop. very likely low enough to fill this Bat.

BREAKING DOWN THE trade in the main Daily chart above, you’ll see clearly what I just talked about above about the Weekly chart. in the SHORT trade my members and we ar in now that we are already in profit of over +350 pips and looking for much MORE! I issued the trade call knowing what my wave count was calling for to happen. when it was confirmed by the wave B top, I waited for a SELL confirmation and took the SELL trade. that’s how you PROPERLY use wave count + structure + price action to locate good, profitable trades! If you’ll see what I see, it isn’t so hard to spot them!

AUDUSD Analysis

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Mohammmad Riad

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