audnzd - impulsive long-term advance

9 thg 1, 2017

This pair has a lot of upside potential and appears to be entering wave 3 in a series of 1s and 2s. See charts below for the bigger picture. There is the possibility for a deeper wave 2 here, but at the moment it looks unlikely.

9 thg 1, 2017

Ghi chú

9 thg 1, 2017

Ghi chú

The bigger picture could be 1/2 or A/B, but bullish either way

10 thg 1, 2017

Ghi chú

still very bullish but this morning's move could be a ABC, with B as a triangle. The origin--A--looks like three waves. Fortunately with this pair right now, areas / limits are defined well.

10 thg 1, 2017

Ghi chú

alternatively if this blasts off here, which looks much more likely with all the impulse waves, then we're entering a relentless third wave now

10 thg 1, 2017

Ghi chú

probable correction near-term

10 thg 1, 2017

Ghi chú

missed a mark. Probably back to wave (iv)

11 thg 1, 2017

Ghi chú

looking for wave (iv) then wave (v) of inner wave iii of 3

11 thg 1, 2017

Ghi chú

wave (iv) of iii still ongoing in a series of 3s, so perhaps a tri

11 thg 1, 2017

Ghi chú

possible wave iv of wave 3 underway. Need some more movement for clarity.

12 thg 1, 2017

Ghi chú

Looks like iv. There should be decent support into c. 1.500

13 thg 1, 2017

Ghi chú

still tracking this as iv of 3, it appears corrective, so another up move likely, and this pair tends to like longer fifth waves.

13 thg 1, 2017

Ghi chú

Technically it's done enough for the correction, so if it breaks out we will know it's over. Failure will suggest a bit more correcting for iv....

Given the size of this correction compared to ii, there is a forced count where this could actually be wave ii of 3, rather than iv of 3 as labelled. Bullish either way.

14 thg 1, 2017

Ghi chú

I've decided to relabel this, because the size of the current correction invalidates the idea that it's iv in relation to ii. Therefore it's more likely to be ii of 3, which forces a slight truncation of actual 2. The correction is choppy, and it appears to need another low for C of Y. If that doesn't appear, a break above current resistance would trigger a long move.

22 thg 1, 2017

Ghi chú

This pair remains bullish. Immediate question is if we're looking at a 1-2-1-2 count from the ii low, or if this will be just 3 up and a further correction back towards what's currently labelled as ii. Give the bulls the edge on this.

26 thg 1, 2017

Ghi chú

There is a data gap in the chart on 2 January. The whole up move does not appear as 5 after all. At the moment it seems we'll make at least one more low to complete 5 waves for either C or 3. If the latter, then another low beneath 2 Jan. Still bullish even if a new low.