{lang: 'en-US'} AUD/USD H1, H4, Daily & Weekly Update + Gann Fan ~ ElliottFxTrader Blog

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Friday, 17 August 2012

AUD/USD H1, H4, Daily & Weekly Update + Gann Fan

Right now I got equally possible counts for this pair: one puts the top for AUD/USD at 1.1074 as wave X is finished. Second count is all about not finished wave 4, that is very nice developing in the rule of alternation - complex corection. When it finish correction, wave 5 will make a new high.

But if top is in, then we are in progress of building the series of 1-2,1-2 and this is extremly bearish sign.

We need to closley observe the price behavior to determine implusive behaviour of wave 3 if we want to void one of the counts.

Weekly chart shows the non-finished complex correction wave 4 scenario.
One of Daily charts is impulsive bearish 1-2, 1-2 count. 

Time will tell.

BTW: I'm pretty sure that non-linear regression model on weekly is tryin' to say: round top anyone?



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