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AUD/USD: technical analysis 15 November 2019, 12:22

AUD/USD: technical analysis 15 November 2019, 12:22 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 0...

Nov 6, 2019

JP Morgan Chase Co.: wave analysis 06 November 2019, 09:31


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 129.09
Take Profit 135.00, 138.00
Stop Loss 123.70
Key Levels 117.60, 119.50, 123.70, 135.00, 138.00
Alternative scenario
Recommendation SELL STOP
Entry Point 123.60
Take Profit 119.50, 117.60
Stop Loss 125.00
Key Levels 117.60, 119.50, 123.70, 135.00, 138.00
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops, within which the wave iii of 5 forms. Now, the development of the third wave of the lower level (iii) of iii of 5 is ending. If the assumption is correct, after the end of the correction (iv) of iii, the price will grow to the levels of 135.00–138.00. In this scenario, critical stop loss level is 123.70.


Main scenario
Long positions will become relevant after the end of the correction, above the level of 123.70 with the targets at 135.00–138.00. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 123.70 will let the price go down to the levels of 119.50–117.60.

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