$EUR vs $AUD 4H Chart.Identifying Patterns | #aud #eur #aussie

FX:EURAUD   Fx Euro/Dolar Australia

EURAUD is in correction since 01.06.2017, and this is an attempt to identify the patterns in order to understand the bigger corrective structure of the 4th (4 circle) corrective wave.
We need some more info which would make the analysis more accurate but taking some standards into account, we can build a trading plan.

Looking inside at the potential flat pattern which still, we don't know the nature of it, as it could be a regular, expanding or running.
1 - Wave-A has been developed into a Zig-Zag pattern (A)-(B)-(C), with a more complex internal (B) corrective wave structure developing a Double-Zig-Zag Pattern, ending at 1.44176
2 - Wave-B is probably developing a bigger Double Zig-Zag Pattern. The first target of the wave is the previous swing high ( the origin of the wave A) at 1.52268. If price reaches the target without breaking it the scenario with the Regular Flat Pattern is in play. On the other hand, if price breaks the target then, the Running or the Expanding Flat Patterns are in play.
3 - Wave-C, the last wave to complete the Flat Pattern, should probably be a motive wave, developing 5-wave sequence.

Trade with discipline

Komen: Price bounced.
Expecting further up
Komen: Target hit, B corrective wave completed, looking for the downside. Flat pattern
Komen: Still looking for one more leg down to complete the 4th wave correction
Thank you ChrisMark! Very clear structures you’re one of the best on TV!
+1 Balas
ChrisMark Victor.Y.F
@Victor.Y.F, Thanks a lot Victor for your kind words.
Victor.Y.F ChrisMark
@ChrisMark, the ECB soft may have completed the 5th. Wave an ending diagonal at 1.53926?
ChrisMark Victor.Y.F
Hi @Victor.Y.F, could you post your chart? That would make our conversation more interactive.
Victor.Y.F ChrisMark
ChrisMark Victor.Y.F
@Victor.Y.F, So you're referring to a Weekly scale. There is definitely more upside for the pair. Right now what we look for is if the 4th corrective wave has ended or there is still space for correction.
I believe there is more space.
Victor.Y.F ChrisMark
@ChrisMark, well same view with you.
+1 Balas
ChrisMark Victor.Y.F
@Victor.Y.F, You can see the first idea and the bigger picture here:
Victor.Y.F ChrisMark
@ChrisMark, Thank you! The C wave with over shoot B or the 5th. wave completed, any way is the same way.
Victor.Y.F ChrisMark
@ChrisMark, just a guess, watch out inflations V shape...
+1 Balas
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