#EURAUD 4 HR #ElliottWave Count

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EURAUD 4 HR Elliott Wave Count

If this count is correct then the C wave target is over 600 pips away at 1.5432 while the invalidation level is 200 pips away at 1.6314.  I may wait for a 3 wave bounce for a possible short against the 1.6314.    

EURAUD 4 HR Elliott Wave Count

#EURAUD 4 HR #ElliottWave Count

EURAUD 4 HR Elliott Wave Count

I am look for the EURAUD to continue to stair step higher with not much pullback.  My target up is 1.7000 and that is about 700 pips away. 

EURAUD 4 HR Elliott Wave Count

#EURAUD 4 HR #ElliottWave Count

EURAUD 4 HR Elliott Wave Count

From the lows of 1.5906 I see a nice 5 wave Leading Diagonal that I have labeled as circle a.  From there we have a 3 wave correction down to 1.59761 for circle b.  From those lows I see what looks to be a nice 5 wave impulse up that I am labeling wave (i) of circle c.  Wave (ii) of circle c could be complete at 1.60951,  this low did hold during the whipsaw correction Friday so we will see what next week brings. 

Target up is 1.700.

EURAUD 4 HR Elliott Wave Count

$EURAUD 4 Hour Elliott Wave Count

EURAUD 4 Hour Elliott Wave Count

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08/06/18

From the lows of 1.52755 I have the first leg labeled as and abc for circle A followed by a sideways correction for circle B and a spike up cor Circle C to complete the X wave.

From the highs of 1.5807 I will be looking for the complex correction to continue.  Once we finish this WXY we could see a deeper correction that holds below 1.58907 then continues lower in a stronger impulse for a C wave.  I believe it will be a back and forth mess until the 1.52755 low give then we could see the correction accelerate lower toward the first target of the 1.50 area.

Above 1.58907 then the x wave is not finished but price would still have to hold below 1.61835 if we are going to see the deeper correction.

EURAUD 4 Hour Elliott Wave Count