EUR/AUD H1 & H4 Update

I have been expecting more downside pressure on this par mostly due to the sharp and sudden wave 2 progression but this wave developmant leaves no doubt about what is going on after all bearish levels have been invalidated.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-h4-update_18.html

EUR/AUD H1 + H4 Update

This is tricki one: so far wave (b) of wave too retraced more than expected but it is still manageable and it strats too look like some kind of Irregular Flat correction.

This is why there are two count for this pair: H1  count is abc with wave c as double three correction
and H4 count that is a extended wave c in five waves correction.

So far not very much tradeable enviroment for a decent R/R ratio.



Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-h4-update.html

EUR/AUD H1 Update

Final level for bears.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-update_13.html

EUR/AUD H1 Update

Price needs to remain above 1.2325 to see a test of 61.8 fib. Failure @ 61.8 fib would leave the pair vulnerable to further losses as wave (c) will develop.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/price-needs-to-remain-above-1.html

EUR/AUD H1 Update

First level for wave (b) has been hit.
Still possibility for second level to be hit before any major pullback.

Plase notice that wave (a) can be really wave 2 bottom (if counted in defferent way but no reason to do this now, so far - so good).


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-update_11.html

EUR/AUD H1 Update

So far, so good.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-update_10.html

EUR/AUD H1 Udpate + TPI

Rationale:
Due to the bullish wave development in this correction wave (a) I expect more weakness to come after wave (b) is finished.

Entry:

Sell wave (c) from possibkle wave (b) highs from 38% and 50% Fibo:

Sell Limit 1.2375 - 1.2385
SL: 10pips.
TP: Below wave (a) Low

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-udpate-tpi.html

EUR/AUD H1 & H4 & Daily Update

Deep retrace in wave 2 into 61% of whole wave 1 after price got rejected from SUPPLY area  of 1.2550.
Right now if the lower DEMAND area woukd get broken through, we might expect deeper pullback in shape of Double Zig-Zag - this count has been presented on H4 bigger picture chart.

All info on charts.

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-h4-daily-update.html

EUR/AUD H1 Update

The outlook is the same.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-update.html

EUR/AUD H1 Update + TPI

Rationale:

It looks like wave (iii) is completed and now we are in corrective pull back to the previous wave 4 area. This is next buy area - Weekly Pivot and nice Fibo Price Cluster.

Entry:
Buy Limit @ 1.2434 - 1.2455
SL:1.2429
TP1:    1.2540
TP2:   1.2588

Take care,

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h1-update-tpi.html

EUR/AUD H4 Update

Bearish blue count invalidated indicates very bullish price action.

Buying the dips on retracements seems like a good idea.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h4-update.html

EUR/AUD H4 Update + TPI

Rationale:

Bullish progression continues - buy the dips into 1.2450 - 1.2430 area. Anything below 38%FiboRet of last swing invalidates the bullish count.

Please notice that there is MACD Bearish Divergence on H4 TF so trading plan might not work well.

Entry:
Buy Limit @ orange rectangle area of 1.2450 - 1.2430
SL: 1.2415
TP1: 1.2530
TP2:  1.2580
R/R: 6:1 and 8:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/euraud-h4-update-tpi.html

EUR/AUD H4 Update

Looks like bulls are winning the game.

Blue line last chance for bears.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update_29.html

EUR/AUD H4 Update + Trading Plan Idea

Rationale:
Waiting for wave (2) end at one of the retracement levels and buy into dips.

Entry:
Buy Limit @ 1.2340 (50%) and 1.2320 (61%).
SL:1.2299
TP: Above 1.2435 min.

R/R: about 3:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update-trading-plan-idea_28.html

EUR/AUD H4 Update

Messy waves all around here.
No tradeable setup for now.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update_9173.html

EUR/AUD H4 Update

Still in correction mode, nothing going on really.
Looking to buy again.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update_27.html

EUR/AUD H4 Update + Trading Plan Idea

Rationale:
If wave (1) is Leading Diagonal and wave (2) has finished as abc Irregular Flat correction then new wave to the upside can be developed.
Entry: Buy Stop @ 1.2417 (activated)
SL: 1.2397 ( in case wave c is not finished)
TP: min. 1.2500
R/R: 4:1


Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update-trading-plan-idea.html

EUR/AUD H4 Update

Well,
it looks like bulls are starting to taking control over this chart.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update_24.html

EUR/AUD H4 Update

Not much going on so far. All count still valid.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-h4-update_23.html

EUR/AUD Daily Time Analysis

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/euraud-daily-time-analysis.html