Forex Mind Games
Private, 1st Class
- Messages
- 49
AUDUSD is forming a nice Elliott Wave bullish pattern. I believe we are currently in wave 4, which is a corrective or counter-trend wave. One thing about Elliott Wave trading is that the wave counts require constant re-adjusting. To solve this inherent issue, I prefer to use Elliott Wave trading on the daily and weekly charts. And voila! Problem "solved!!"
The daily chart below shows the wave count.
On the 4hr chart, wave 4 is obeying a falling channel. Once price breaks above the falling channel, it should be the start of wave 5. Watch carefully and wait patiently for wave 5. It can a really powerful bullish up move.
The daily chart below shows the wave count.
On the 4hr chart, wave 4 is obeying a falling channel. Once price breaks above the falling channel, it should be the start of wave 5. Watch carefully and wait patiently for wave 5. It can a really powerful bullish up move.