AUDUSD: A Wave C Corrective Wave Equivalent To Wave 3's

Back on November 9th, we identified what is the corrective equivalent of a wave 3: a Wave C. But we have been waiting for this wave C to show itself for some time! Now, you might ask what is this wave C correction part of and where it might go? I'll explain and shed light on what this is and give you some insight as to what is happening here in the big picture so you can understand and see what I see.

Here is the Weekly chart that I showed my members on Nov. 9th at the time I gave and executed a SHORT trade:

In it you can see that I was projecting that prices would start heading down sharply. And what you can also see is that my wave count shows that this down move is part of the overall wave (B) correction. That wave (B) correction being a part of an even larger wave (4) correction. Well, as you should well know, wave B's are composed of 3 waves itself. Waves A, B and C. Here is my current Daily chart:

In this chart, you can see that right after I published my Weekly projections, it fell! And fell Hard! And we went short on that drop! You can see the way that I have broken down the wave (B). Wave A and B of the larger (B) are both completed. That leaves the wave C of (B). And that is where we are now. Remember that wave C's are impulsive and consist of 5-waves. By my chart, you can see that this wave C has just started and has a ways down to go yet! So far (as of this post), we are already in profit by +186 pips or so and are looking for A LOT MORE!

For now, according to my wave count in this 4HR chart you see above, it is currently correcting the recent strong drop in a wave iv. That wave iv is still working and should still retrace more. There is a POTENTIAL Bat as well as an AB=CD pattern that is in development. Upon completion, it should resume the larger downtrend.

Kommentar:

There is now a completed Gartley pattern although I still do prefer to see the POTENTIAL Bat be completed.....

Kommentar:

Did you take the trade off the COMPLETED Gartley??? Does anyone still poo-poo the idea of advanced patterns? Time and time again, I've shown that advanced patterns are a very effective tool to use in analyzing charts when used in the PROPER manner! I use them to forecast alongside wave counting and my own proprietary methods and you can see the results! So listen to those others who still want to deny that advanced patterns work. Or pay attention and make money! Here you can see how that COMPLETED Gartley worked perfectly in forecasting this nice drop! And no pain at all to deal with! We're SHORT in AUDUSD and we're already up over +200 pips on this trade. But there should still be MORE downside to come!