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.


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
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 29/09/23 19:22
  • Posts

    • The crypto market appears to be showing signs of recovery, with significant improvements in the Sharpe Ratios of Bitcoin, BGB, and Ethereum, according to an article published on Friday.  The Sharpe Ratio, a measure used to understand the return of an investment compared to its risk, has seen a notable increase for both cryptocurrencies. Bitcoin's Sharpe Ratio has risen from -2.4 to 0.68, while Ethereum and BGB have also experienced a similar uptrend. This change signifies higher returns at lower risk, which is expected to attract more investors to the crypto market. In addition to the improved Sharpe Ratios, increased network activity and trading volume as shown on CEXs like Bitget, Binance, and a few DEXs are suggesting a healthier market state. The current trading prices of Bitcoin, reflect this overall positive market sentiment. As of Friday, Bitcoin was trading at $27,069.73, BGB at $0.454 and Ethereum at $1,677.89. These developments are significant as they indicate reduced risk in the crypto market. The increase in the Sharpe Ratios for Bitcoin, BGB, and Ethereum suggests that these cryptocurrencies are becoming less risky investments, which could potentially lead to an influx of new investors into the market.  Could this rise in Sharpe Ratios coupled with increased network activity and trading volume point towards a recovering and less risky crypto market?
    • Hi, That's great, thank you very much. Very helpful! Many thanks.
    • Texas Instruments Inc., Elliott Wave Technical Analysis Texas Instruments Inc., (TXN:NASDAQ): Daily Chart, 29 September 23 TXN Stock Market Analysis: We have been moving lower as expected from the previous forecast. Looking for continuation lower as there is an incomplete bullish sequence. Looking for extension lower in wave {iii}. Downside target stands below wave (W). TXN Elliott Wave Count: Wave {iii} of C. TXN Technical Indicators: Below al averages.   TXN Trading Strategy: Looking for shorts on the way down.   TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!       Texas Instruments Inc., TXN: 4-hour Chart, 29 September 23 Texas Instruments Inc., Elliott Wave Technical Analysis TXN Stock Market Analysis: As we are getting an overlapping structure in what could be a wave {iii} there is a high chance we will see an acceleration lower to then see a series of fours and fives.   TXN Elliott Wave count:  Wave (iii) of {iii}. TXN Technical Indicators: 20EMA as resistance. TXN Trading Strategy: Looking for shorts on the way down.
  • Create New...