Week 10 possible trade AUDUSD; 4 hour analysis of AUDUSD
We are in wave (iv) of (c) of (b) of Z. Based on fibanoahi levels wave (iv) should be ending (it is between 0.236 and 0.382 retracement levels of wave (iii)). Wave (v) expected to go to a level between 0.77 (38.2% extension) and 0.766 (61.8% extension of wave (iii). After wave (v) we will see the start of bigger wave (c) of Z.
It is preferable not enter for any short trade in wave (v) of (c) of (b) of Z.
Wait for start of wave (c) of z, within wave (c) the entry points are
1. At the level where wave (iii) of (c) of (b) of Z had its peak.
2. At the level where wave (iv) of (c) of (b) of Z had its peak. (Conservative buy)
SL would be below wave (v) of (c) of (b) of Z
TP will be 0.797; 0.81; 0.818
Alternate can be to wait for wave (i) & (ii) of (c) of Z to finish and enter in wave (iii) or when the abc channel of wave (b) of Z is broken.
It is preferable not enter for any short trade in wave (v) of (c) of (b) of Z.
Wait for start of wave (c) of z, within wave (c) the entry points are
1. At the level where wave (iii) of (c) of (b) of Z had its peak.
2. At the level where wave (iv) of (c) of (b) of Z had its peak. (Conservative buy)
SL would be below wave (v) of (c) of (b) of Z
TP will be 0.797; 0.81; 0.818
Alternate can be to wait for wave (i) & (ii) of (c) of Z to finish and enter in wave (iii) or when the abc channel of wave (b) of Z is broken.
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