On 27th of December 2016, Our Strategy of the Day Video presented to clients viewed the bounce in AUDCAD as a selling opportunity in the pair.
Short AUDCAD (12/27/2016)
On 12/27/2016, pair was showing incomplete swing sequence (5 swings) from 11/10 peak & was missing the target (0.9545 – 0.9415 area). This suggested Elliott wave sequence was incomplete and bearish against 12/14 peak (0.9887) in first degree and thus our strategy was to sell the bounces in sequence of 3, 7 or 11 swings as far as pivot from (0.9887) peak stays intact.
Chart:
Chart showing 0.9775 – 0.9793 as the area to end 7 swings from the low and first area for sellers to appear.
AUDCAD Pair reacted lower from our red box area (0.9775-0.9824) & broke below previous low as expected, as can be shown below 1 hour 1.1.2017 weekend updated chart, thus allowed our members to create a risk free position in the trade.
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