AU got a nice bounce on Friday, even though it was mostly due to Dollar weakness.
Nonetheless, the significant bounce should have at least an overshoot, if not something substantial.
I am looking for a ABC move, or like an AB = CD type of move, where the AB leg is almost duplicated by the BC leg.
The final Target will depend on how deep the B wave retraces.
Thus I have two possible paths for B to C, as well as the small green arrows in case of enthusiastic overshoot.
Lets see how this plays out early in the week.
This is idea is a follow up to my previous plan, which called for a short then long
Nonetheless, the significant bounce should have at least an overshoot, if not something substantial.
I am looking for a ABC move, or like an AB = CD type of move, where the AB leg is almost duplicated by the BC leg.
The final Target will depend on how deep the B wave retraces.
Thus I have two possible paths for B to C, as well as the small green arrows in case of enthusiastic overshoot.
Lets see how this plays out early in the week.
This is idea is a follow up to my previous plan, which called for a short then long
Note
AU dipped as expected. It tried to bounce at the first support zone, but the US session knocked it down to the second support 
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.