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|Subject: AUD/USD Elliott wave count and Fibonacci levels for June 2, 2011 Thu Jun 02, 2011 6:37 am|| |
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AUD/USD Elliott wave count and Fibonacci levels for June 2, 2011
Real Money Doubling Forex Robot Fap Turbo - Sells Like Candy!ORDER NOWREAD MORE ABOUT ITAUD/USD has developed wave 1.0439-1.0756. According to wave count this was subwave A (colored magenta in the chart) within long term impulse wave C (colored plum in the chart).
Now the targets of supposedly corrective subwave B are Fibonacci retracements of 1.0439-1.0756 and expansions off 1.0756-1.0641-1.0752, and also 1.1011-1.0439-1.0756.
- 1.0566 = expanded objective point (XOP)
- 1.0560 = .618 retracement
- 1.0403 = contracted objective point (COP)
If the price reverses up the immediate resistances will be Fibonacci retracements of 1.1011-1.0439, and Fibonacci expansions off 1.0439-1.0756-1.0588.
- 1.0784 = contracted objective point (COP)
- 1.0792 = .618 retracement
- 1.0905 = objective point (OP)
Assuming that the medium term trend is down it's preferable to try short
positions when the Detrended Oscillator goes above the zero level
(10-15 pips above the current prices) or gets into the overbought area
(40-50 pips above the current prices).Real Money Doubling Forex Robot Fap Turbo - Sells Like Candy!ORDER NOWREAD MORE ABOUT IT
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