Thursday, June 30, 2016

Audusd Trade Set Up: Updates

Last Friday, June 24th, there was a post here on AudUsd . We had a solid ground to hold on to an ideal bearish continuation after the ''BREXIT'' spike seemed to trigger a bearish move.

Read the analysis HERE

The chart below was one of the one used.

A corrective pattern was completed at 0.7644 and price spiked down in the event of the ''BREXIT'' news which bode well for our analysis.

We put a sell trade at 0.7480, slightly below 61.8 correction of the spike with our exit at 0.7650.

Price flashed down and rallied. The chart below showed that a more complex correction may be coming along.

Wave ii is clearly bidding its time. The pattern forming is a Regular Flat.

The pattern is expected to be held below 0.7517. Any serious break above this level will make us cut losses or close the trade all together as price may resume the rally that preceded the ''BREXIT'' spike.

This pattern and the wave count may also be giving an early sign of a head and shoulder pattern which is also a reversal chart pattern.

If this head and shoulder pattern is properly formed, held below 0.7517 and breaks the neckline, it will further prove that chart patterns are subsumed in the Elliott wave patterns.

These are some of the things we will be discussing in the next Elliott wave training and mentoring programme starting on 11th July, 2016. Book your space and request for training outlines by mailing or
You can also subscribe to our trade set-ups/signals.
Cost of training: $200 or #25000.

If price moves as anticipated, targets levels are at 0.7300, 0.7200, 0.6940 and 0.6500.

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