Please see my post from October 19 here first: http://theelliottwavesufer.blogspot.dk/2013/10/elliott-wave-analysis-of-audusd-and.html
We saw the top close to the 50% correction and we are now seeing acceleration towards the downside. We can also see a S/H/S top-pattern adding support to the downside pressure.
For the long term I'm still looking for much more downside here. My minimum expectation is for a decline towards 0.8204, where wave C will be equal in length to wave A, but I would not be surprised to see and extension lower towards 0.8065 and mayby even lower, but time will tell.
Hi EWS,
ReplyDeletehow do you see now GBPUSD?
Please answer es soon es you can. I am short!
Thx
Thanks for your posts this week when you have time can you take a look at DJI please.
ReplyDeleteHave a great Weekend.
Best Regards jt
Hi Paulina,
ReplyDeleteWith a small new high I have "just" shiftede the ending-point af wave d. We are likely close to the top of wave d, but we need a break below 1.6258 to indicate, that the top is in place, while a break below 1.6133 confirms that the final e-wave of the triangle is developing towards 1.5854.
Only a break above the top of the triangles wave b at 1.6689 will confirm, that the e-wave is already in place and was very very small.
Kind regards
EWS
Hi JT,
ReplyDeleteThank you very much and a great weekend to you too.
I will take a look at DJI during the weekend and make a fresh update.
Kind regards
EWS
Thank you very much, if you could post a chart GBPUSD to your view, that would be great.
ReplyDeleteThank for audusd chart. long term count valid for drop however short term do u think the upward correction still unfinished business possibility back to 1 if 0.8950 could hold? anyway this week movement have mess up the pattern.
ReplyDeleteHi Juan,
DeleteSorry, but no! I don't see a rally towards 1.00. I do see the possiblity for a correction towards 0.9205 and maybe even 0.9250, before the next decline lower towards at least 0.8204 and likely even lower.
Kind regards
EWS
Thanks EWS.
Delete