AU "should" have one more leg down before possible turn of trend. Looks to have finished waves 1 thru 4, and starting wave 5 (circled numbers). Of that circled 5, we have had clear waves (1) and (2) and should start (3).
Of note, the Elliott Wave counts are guesses, but my Zones are solid. If you look at any of my previous plots, every turn happens at "a" plotted zone. But of course I don;t always forecast "the" zone that makes the turn but one does.
See some of my other Forex calls below. I also plot Crypto and some Stocks, check my Profile Page.
(played out perfectly) (perfect short a year ago) (in time, to the Pip) (scalp that ran hard) (perfect top, huge profits) (the very tip-top a year ago) (perfect entry, huge profits) (pinpoint Entries/targets) (just in time, quick 70 pips) (Upthrust warning just in time) (recent perfect entries) (just in time, perfect short) (caught most of the spike) (perfect entry, huge profits) (recent perfect entries) (Perfect entry, still in play) (Prefect entry, almost done) (Fib extensions at work)
Of course, I have had total FAILS on some plots also, not going to pretend. But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
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Moving exactly as anticipated Wave (3) is picture perfect - a fast move with very little pullback until wave is done. Now we see if it bounces. If NO bounce, then wave 3 may not be done yet.
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Zoomed in on the last leg - wave (3) - there is of course a Fib that fits it nicely also notice the relevance of the Green zone originally plotted from higher tf fibs. Now, I can make some adjustments to the zones, give the new info (fib of wave 3).
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So far so good, moving EXACTLY as anticipated Original target still looks very likely. The only question is whether wave (4) will test the green zone (previous support).
Zooming in and adding fibs for the move down: the Red fib is that of "wave (1). the Blue fib is that of "wave (3)". Those in conjunction with the higher tf fib (light blue lines) help fine the previous support zone into to slices. So wave 4 could reach the lower green zone as shown, or it could go to the next one. Of course, we might have bottom and fire upwards now, but I think the odds are heavily in favor of a wave (5) yet to come.
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So the "likely to Ping" zone got Pinged, and the "Plausible Target" still seems Plausible I did not expect that zone to be so strong, enough to launch a spike.
Zoomed in and with a Fib of new Impulse down The original target still looks very plausible.
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Per the last update above, it is following and should see a lower low soon
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Likely Target hit exactly I think it wants to go lower but should see a little bounce here. That bounce, or lack thereof, will be telling.