Most of the AUD pairs are currently in a corrective move. We need to try and catch the end of the current corrective pattern to find the impulsive move up.
The charts are suggesting we are starting the up-move to complete the larger corrective C wave.
We can either be patient and catch this move up on the Daily or for all you day traders, you can drop to the...
Overall we are in a larger correction (Weekly/monthly) However we have seen the larger B wave complete, so we now expect the larger impulsive C wave to start.
Dropping to the lower Daily we have identified the first daily impulse followed by a daily correction we are currently in. We are now hoping to catch the next daily impulse.
Impulse - correction - impulse.
Its been a little tricky trying to find patterns and analyse this pair, however, after spending a bit of time testing a few patterns, I believe we have finished (or nearly finished) the down move.
I will be opening a long trade on this pair once price has raised and triggered my entry.
Price is holding nicely around the 50%-61.80% so far if we continue to hold and start to show bulls enter and try to follow the count.
Just had a break from the correction wave now looking to see continuation.
It seems Price have started a correction and get ready for its next Elliott Cycle. I would wait and see if the Price will break the monthly S1 or R1 Pivots, then will analyse the oscillators and other tools.
looks like the sub-micro 4 is in, and we are starting the sub-micro 5th to complete the micro 3rd.
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XLM looks like its completed waves 1 and 2 on the day.
looking for wave 3 to my target zone.
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Wait for buy signal from candle stick formation and wait for a bullish change if we don't see market sentiment change to a bull market. Do not enter if we break the trend line
Free telegram signal room: t.me
EURCAD is obeying the 38.20% level and market sentiment is starting to change we are going to enter into this position and try ti ride wave three to (3) which is 1.53114
Will also try to enter a short at point (3) and exit at point (4) and then long at point (4) to point (5)
Risk to reward ratio for this is 5.15
Four hour short analysis on AUDCAD using Elliot Wave entry is around (2) we are looking for rejection around one of the key levels and then a change In market sentiment.
-28 pip Stop loss (SL) Risk to reward is 9.32 Which is an amazing trade if it obeys the Fib and we see a bearish takeover.
Good luck to anyone who decides to trade this.
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