AUDUSD - Be careful of the shark in the waves@0.8065

Safe Traders can look to initiate short positions below 0.7800 mark & Risky Traders Can take advantage of shark@0.8065 but check all other tools to confirm the sell position from close by levels of 0.8065-0.8000 zone.

We look for internal wave 3 to complete close to 0.73285 which is the end of the triangle & a thrust started & completed@0.8065 & later bounce back to complete wave 4 upside & final fall which completes wave (C) - this completes the whole sequence which started from 1.1080 in year 2011

There is a shark in between vertical lines shown just above as to get good picture & view of the instrument rather than making it choppy.
So, we have a strong confluence of shark in the waves at close by levels of 0.8065 which can offer good resistance. Safe Trading can be initiated below 0.7800 mark

Target- minimum should be E- wave in the triangle@0.73285- if that breaks then it becomes more bearish else a possible bounce back can be expected.

Enjoy. Shall be returning back in another 3 months to check -how the structure has opened up.

Take Care.

Previous Update - left at C- Wave in Triangle in Dec2016

Trade active:

13:20 Hrs 23rd Aug2017

Last price@0.7885

Falls from top@0.7950 as suggested for Risky Traders.

Trade active:

19:55 Hrs 6th Oct2017

Last Price@0.7753

Looks to be impulsive fall below 0.8000 mark. If it wave 1-2-3 count in that case wave 3 completes 200% of wave 1 @0.7765.
We shall look for bounce back in wave 4 which likely should travel 38.2% @0.7880 & close previous swing high@0.7875 once it holds above 0.7750
Look for Buying opportunity using your own analysis.
Best of Luck.

Trade active:

07:05 Hrs IST- 10th Oct2017

Last Price@0.7783

AUDUSD turned as anticipated from lows of 0.7733. Use Trail Stop Method to Squeeze most out of this upside push. If it extends beyond & stays above 0.7900 then it could even make new high above 0.8125

Trade active:

18:42 Hrs 13th Oct2017

Last Price@0.7873

Awesome - It pushed from 0.7750 to 0.7880 - We will take rest if it sustains above 0.7900 then next week we will plan to take long positions else holding down below 0.7900 - It can drop below 0.7333 - Enjoy the weekend.

Trade active:

07:48 Hrs 17th Oct2017

Last Price@0.7840

Took U- Turn from 0.7897 under 0.7900 as anticipated & heading down.

Trade active:

17:28 Hrs 17th Oct2017

Last Price@0.7846

Next we continue down move below mini bottom@0.7833

Trade closed: target reached:

Closed -done & out