marco_politi

The corrective phase on 1h AUDUSD begins.

FX:AUDUSD   澳幣 / 美元
What is prefigured here, through a careful examination of the Elliott cycles, is the beginning of a corrective wave.
The 1h chart shows the price level at the top of the AudUsd             wave 5 and, before the breakout, a new rebound on the trend line could configure a reversal pattern: head and shoulders or double top .
Point IV is lower than point I. It's not Elliot wave.
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Hi @geleone,
if you put an orizontal line at the bottom of wave four you ca see that it is exactly at the same level of point 1.
Thank you for your comment
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geleone marco_politi
@marco_politi, If you zoom in, you'll see that it's tiny bit lower. It's nitpicking, of course. But does it affect the way we should interpret waves? I don't have definite answer.
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@geleone, I agree with you!
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