AUDUSD according to plan, follow up
For my previous post and context see link below:
Wave 4 corrected more than anticipated at first but the characteristics are pointing to a high to be in place. At least short term. What I mean by that is that either way I expect another leg lower after a consolidation. So I'll be waiting for a consolidation to sell the bearish continuation for either wave C or wave 3 lower. If price trails higher I simply let it go but I don't expect to see that today or tomorrow.
Updates will follow.
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Wave 4 corrected more than anticipated at first but the characteristics are pointing to a high to be in place. At least short term. What I mean by that is that either way I expect another leg lower after a consolidation. So I'll be waiting for a consolidation to sell the bearish continuation for either wave C or wave 3 lower. If price trails higher I simply let it go but I don't expect to see that today or tomorrow.
Updates will follow.
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Note
AUDUSD seems like it is starting its correction after what I have counted as either wave 1 or A lower. I think that this consolidation might be setting up the next sell trade for FOMC this Wednesday. However it is too soon to tell but I like to see at least 3 waves higher. Keep in mind that we are in the early stages of this consolidation and the ABC wave count is indicative.
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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.