Jump to content

Australian Dollar/U.S.Dollar (AUDUSD) 4 Hour Chart Elliott Wave Technical Analysis 9 January 24


Recommended Posts

AUDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, 9 January 24

Australian Dollar/U.S.Dollar (AUDUSD) 4 Hour Chart

AUDUSD Elliott Wave Technical Analysis

Function:  Trend

Mode: Corrective

Structure: blue wave B of black wave 2

Position:  Red wave 3

Direction Next Lower Degrees: blue wave C of 2

Details: blue wave 5 of 1 completed at 0.68735 .Now blue B of black wave 2 is in play. Wave Cancel invalid level: 0.68735

The "AUDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated 9 January 24, provides a comprehensive analysis of the Australian Dollar/U.S. Dollar (AUDUSD) currency pair using Elliott Wave theory. This analysis aims to offer traders valuable insights into the current market dynamics and potential future developments.

The identified "Function" is categorized as "Trend," suggesting that the analysis is focused on understanding the prevailing trend within the market. This indicates an attempt to fit the current price movements into the broader trend context.

The specified "Mode" is labeled as "Corrective," implying that the present market activity is part of a corrective phase. Corrective phases typically involve price movements against the prevailing trend, characterized by a temporary interruption or reversal.

The primary "Structure" is described as "blue wave B of black wave 2." This signifies that the market is currently undergoing a correction labeled as B within the larger Elliott Wave count of black wave 2. Traders use this information to gauge the potential duration and scope of the ongoing correction.

The identified "Position" is labeled as "Red wave 3," offering insights into the position of the current market movement within the broader Elliott Wave sequence. This information is crucial for traders to understand the context of the correction within the overall trend.

In terms of "Direction Next Lower Degrees," the analysis points to the anticipated "blue wave C of 2." This suggests that, following the completion of the current corrective wave B, the market is expected to resume its downward direction as part of the broader corrective structure.

The "Details" section mentions that "blue wave 5 of 1" has completed at 0.68735, signifying the conclusion of the preceding impulsive wave. The market is currently engaged in a corrective

phase labeled as "blue B of black wave 2," providing traders with a reference point for their analysis.

The "Wave Cancel invalid level" is identified as "0.68735," indicating that if the market reaches this level, the current wave count would be invalidated. Traders may need to reassess their analysis in such a scenario.

In summary, the AUDUSD Elliott Wave Analysis for the 4-hour chart on 9 January 24, indicates that the market is currently in a corrective phase labeled as "blue B of black wave 2." Traders are advised to monitor the completion of this correction and be prepared for a potential continuation of the corrective structure toward "blue wave C of 2." The invalidation level at 0.68735 provides a critical point for assessing the accuracy of the Elliott Wave count.

Technical Analyst : Malik Awais

 

Forex23.thumb.png.4b4a827411b4fb3bb5f0ace19b8da20a.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

    • I'm intrigued by NADA Protocol's vision of integrating blockchain technology into the gaming experience. The prospect of owning and trading in-game items through NFTs adds an exciting dimension to gameplay, offering real rewards and enhancing immersion. The marketplace controlled by the NADA token seems promising, providing a platform for users to engage in trading activities within the gaming ecosystem. I'm optimistic about NADA's potential to carve a niche for itself in the competitive gaming world, especially with its focus on creating a fun and economically rewarding gaming environment. Looking forward to exploring this new gaming frontier!
    • I see DIMO's innovative platform as a game-changer in the automotive industry, offering a new level of connectivity and transparency. With DIMO, I can envision having access to valuable vehicle data that can enhance my driving experience and provide me with insights into the car's condition. This not only makes the car-buying process easier but also instills confidence in the vehicle's history and performance. Moreover, the listing of DIMO's native token on Bitget exchange is exciting news as it will create more exposure for the project, potentially leading to further advancements and adoption in the automotive space.    
    • The growth trajectory and innovative approach of Autonolas are indeed impressive, signaling its potential to disrupt both the crypto and AI sectors. With its unique blend of off-chain services and AI capabilities, Autonolas has positioned itself as a key player in the evolving landscape. Furthermore, the listing of its utility token OLAS on Bitget exchange, coupled with a favorable price trend and deposit rebate, adds to the project's appeal and growth prospects. Exciting times ahead for Autonolas and its investors.
×
×
  • Create New...
us