Jump to content

Australian Dollar/U.S.Dollar (AUDUSD) 4 Hour Chart Elliott Wave Technical Analysis 14 August 23


Recommended Posts

AUDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, 14 August 23
Australian Dollar/U.S.Dollar (AUDUSD)  4 Hour Chart
AUDUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: impulsive
Structure: Zigzag
Position: Red wave 2
Direction Next Higher Degrees: After blue wave 5 of C of 2 new uptrend expected    
Details: Blue Wave “5”  likely end above  0.61712 . Wave Cancel invalid level: 0.66184
 
On 14 August 23, the AUDUSD 4-hour chart presents an Elliott Wave analysis focusing on counter-trend movements within an impulsive mode. The analysis delves into the structural intricacies of the market movement, highlighting the presence of a Zigzag pattern within a broader wave structure.
 
The identified structure is a Zigzag pattern, with the current position labeled as Red wave 2. This signifies a counter-trend movement, wherein a corrective pattern interrupts the prevailing trend. The analysis underscores that the Zigzag pattern often consists of three distinct waves, labeled A, B, and C, each characterized by specific price movements.
 
The examination of the Elliott Wave analysis highlights the completion of Blue Wave "5" within the context of C of 2. The analysis suggests that the endpoint of Blue Wave "5" is expected to surpass the level of 0.61712. This anticipation underscores the potential for a continued upward movement within the corrective wave structure.
 
It is important to note that, in Elliott Wave analysis, the concept of invalid levels holds significance. According to the analysis, the invalid level is set at 0.66184. Should the price movement surpass this level, the analysis's validity could be compromised, and traders are advised to reassess their trading strategies accordingly.
 
Traders and investors focusing on the AUDUSD market are recommended to closely monitor the unfolding price movements and the potential realization of the anticipated Zigzag pattern. The completion of the Zigzag pattern within C of 2 marks a crucial juncture for traders to gauge the potential for a new uptrend.
 
Elliott Wave analysis serves as a valuable tool for discerning potential market patterns and trends. However, successful trading strategies incorporate a comprehensive approach, including technical indicators, fundamental analysis, and market sentiment. Moreover, traders are encouraged to implement effective risk management practices to safeguard capital in the dynamic forex market environment.
 
Ultimately, the summary underscores the dynamic nature of forex trading, where market trends and patterns can shift rapidly. By staying informed and making well-informed decisions, traders can navigate the markets with confidence and adaptability, ultimately enhancing their trading performance.
 

6)audusd.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • The current market indicates that ERC-404 has the potential to be a game-changer. Because of the combination of ERC-20 (token) and ERC-721 (NFT) features, it is unique yet easy to draw attention to itself. As PANDORA has generated quite a bit of excitement and produced a number of millionaires, I'm hoping BEANS can do the same. But keep in mind that the cryptocurrency market is unstable, so do your homework before investing in BEANS or other tokens.
    • It's exciting to think about the possibilities of copy-trading. But it's like a double-edged sword: it can make you an easy profit, but it can also lead to the loss of all your money. Consequently, in order to make profits  and avoid losses, you must select the appropriate elite trader to follow. And DYOR is, in my view, the most effective technique to accomplish this.
    • Elliott Wave Analysis TradingLounge Daily Chart, 26 February 24, AAVE/ U.S. dollar(AAVEUSD) AAVEUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave ((B)) Direction Next higher Degrees: Wave II of Impulse Wave Cancel invalid Level: 47.34 AAVE/ U.S. dollar(AAVEUSD)Trading Strategy: Correction of wave 2 in the Zigzag pattern. Price is currently pulling back in wave B before falling again in wave C. The overall picture is still in an uptrend but is correcting to continue upward. AAVE/ U.S. dollar(AAVEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillatoris a bullish Momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!         Elliott Wave Analysis TradingLounge 4Hr Chart, 26 February 24, Bitcoin/ U.S. dollar(BTCUSD) AAVEUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave ((B)) Direction Next higher Degrees: Wave II of Impulse Wave Cancel invalid Level: 47.34 Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Correction of wave 2 in the Zigzag pattern. Price is currently pulling back in wave B before falling again in wave C. The overall picture is still in an uptrend but is correcting to continue upward. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.    
×
×
  • Create New...
us