AUDUSD - Forex Majors | Elliott Wave Patterns | November 2019
AUD/USD - Elliott Wave Technical Analysis
Structure & Degree: 3-swings Sequence in a Primary Degree Y (pink)
- Intermediate (A) (blue) - Sharp Zig-Zag
- Intermediate (B) (blue) - Complex Running Flat in Minors WXY (pink)
- Intermediate (C) (blue) - Ending Diagonal
Minor 1 (green): Zig-Zag decomposed as a 5-3-5 in Minutes abc (blue)
Minor 2 (green): Complex Triple Three in Minutes wxyxz (purple)
Current Position & Pattern:
- Minute z (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Minor 3 (green) continuation: Sharp 3-wave, Bullish Sequence
Technicals & Confirmations:
- 50% or 61.8 Fibonacci Retracements of Minor 1 (green)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- 161.8% Fibonacci Extensions of Minutes y & x (purple)
- Bullish Divergence at the Fibs
- Ascending Channel, lower trend-line support
- Bullish Harmonic Structure
Structure & Degree: 3-swings Sequence in a Primary Degree Y (pink)
- Intermediate (A) (blue) - Sharp Zig-Zag
- Intermediate (B) (blue) - Complex Running Flat in Minors WXY (pink)
- Intermediate (C) (blue) - Ending Diagonal
Minor 1 (green): Zig-Zag decomposed as a 5-3-5 in Minutes abc (blue)
Minor 2 (green): Complex Triple Three in Minutes wxyxz (purple)
Current Position & Pattern:
- Minute z (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Minor 3 (green) continuation: Sharp 3-wave, Bullish Sequence
Technicals & Confirmations:
- 50% or 61.8 Fibonacci Retracements of Minor 1 (green)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- 161.8% Fibonacci Extensions of Minutes y & x (purple)
- Bullish Divergence at the Fibs
- Ascending Channel, lower trend-line support
- Bullish Harmonic Structure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.