AUDUSD finding wave 5

with my elliot wave and price action analysis, i found that the price of wave 4 was completed at the uppper channel trendline.

the price seems to fail to find its higher high.the only wave 5 from the downward impuls is to seek its completion.

the channel trend rejection from the wave 4 correction end make my view clear that the price will find it wave 5 completion.

by looking at the daily candle, there are tweezer top formation formed at the top trendline. this indicate that the trend reversal. yet the candlestick formation was formed near the upper channel trendline.that make my decision of view clear.

find the entry on the resitance area of 0.7170. while target profit can be set to the support area of 0.7020.

good luck!!

this idea was published for the purpose of study only. all the risk taking are at your own responsibility.


A forex trader who enjoy doing forex naked chart and make profit with forex expert advisor.Also enjoy to socialize with other forex trader in the world.

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