AUDUSD - Downtrend has resumed - Going for new low - Great R/R!
We should be in the fourth wave of this 5 wave decline.
On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone.
A drop below wave a high of 5935, would increase the odds in our favor.
Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the count might be wrong.
On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone.
A drop below wave a high of 5935, would increase the odds in our favor.
Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the count might be wrong.
Note
Note that even if the 15min count gets invalidated, the bigger picture remains intact as long as price stays below 6435 !
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Disclaimer
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
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.