Elliott Wave Theory AUDUSD 13 Feb 2012 ~ forex day trading strategy

Elliott Wave Theory AUDUSD 13 Feb

We all know that the present wave in what is the price at the moment, it is much easier when there is a great story quotes a currency pair. I always try to find a good and long history, to understand precisely the nature of the currency and see its behavior in the past.

We find quotes for 100 years. The history of 1900. At this time, an Australian trading at $ 08.04 per shtutku. He is currently traded at around $ 01.01. Looking at the global schedule is not difficult to note that the trend is for couples - top-down and with all this, still the pulse. In 2001, historical minimum price set at $ 0.48. Funny figures were formed, 4.8 and 0.48. Over 100 years of Australian lost 1000%. I assumed that at the level of 0.48, we ended the third wave pulse. But this is only an assumption, because for a given period of history is too small. Local growth, which began in 2001 and is more - less significant correction throughout the visible trend. One can not rule out the option with the start of a global correction, but it can be assumed only after the formation of five waves up from the 0.48 level. At the same time, we have the formation of the third wave is a wave, and presumably with a zigzag, as within the third wave is the intersection of the fourth wave of the first, it is not permissible for a third wave of momentum. The approximate level of the end of a wave with a zigzag, and with it perhaps the entire 4th wave is projected in the area of the level of 1.24 - 1.25. So, already formed and the critical level of 0.9370, which confirms the completion of the breakdown wave formation with the whole zigzag. In the short term, Australian can expect continued growth and the formation of the fifth wave, vvolne C. By the time it should take about a month 3-4.