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AUDUSD Short Term Elliott Wave Analysis

20th October 2017   ·   0 Comments

AUDUSD Short Term Elliott Wave Analysis

Written Elliott Wave Forecast | 2017-10-20 01:29:13 GMT
AUDUSD 1 Hour Elliott Wave Chart

AUDUSD

Double three ( 7 swings) is one of the most common corrective patterns in Elliott wave’s theory. We often refer to double three structure as a 7-swing structure. It is a great pattern that allows traders to trade with a well-defined level of risk and target areas. Below is the image of a Double Three structure. It has labels of (W), (X), (Y) and an internal structure of 3-3-3. This means that all 3 legs has corrective sequences. Each (W) and (Y) is formed by 3 wave oscillations and has a structure of A, B, C or W, X, Y of smaller degrees.

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