Wednesday 18 December 2013

AUDUSD, bouncing back

Hi Traders,

The AUDUSD (now at 0.8915) seems to be ready for a temporary rally to 0.9220 or higher.


likely: 0.9195-0.9220
possibly: 0.9343-0.9389
maybe: 0.9400


The pair has completed 5 waves down in each time frame (daily, 4-hour and 1-hour charts). If this is true, the rule of "multiple five in multiple timeframes" is respected and we expect a reversal.

This is confirmed by the channels being touched 4 times in the daily chart and 4-hour charts.


The "reversal candlestick" in the 4-hour chart is not very convincing and the market might try to stop you out before shooting up.


Hence, enter your trade only when you have a valid cross of the 2 black lines in the daily or 4-hour charts.

Remember to place your "trailing stop" according to the "instructions" from the wave oscillator. 

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over the daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over the 4-hour chart - click to enlarge

1-hour chart - click to enlarge 

wave oscillator over the 1-hour chart - click to enlarge