Monday, September 13, 2010

AUD/USD Time Symmetry Shows Rally Can Last Until 9/24/2010

AUD/USD appears to be in the last leg (fifth wave) of an Elliot Wave method trading pattern or also the third drive of a Scott Carney Harmonic Trader pattern.  I believe most of the experts would agree both of these systems are mutually inclusive rather than exclusive and hope I have not butchered their stuff here.  What struck me as fitting the model perfectly is that the rallies from AB and CD both last 27 days, perfect time symmetry.  Projecting forwards the patterns should ideally complete on 9/24/2010 having rallied for at least 777 pips from the low point of 4 (assuming that this final wave can go up at least the height of AB).  This leaves 10 more rally days for the Aussie and minimum target of .9550 (or so).
If I screwed up bad please leave a comment :)