AUDUSD - Medium term analysis - Short
Updated
On basis market situation can be a change of view.
The price after a good rally long is stopped without break the previus hot point 0,7840
This can say that we are on bearish trend. So I think that the final 5wave have a troncation and we can try to understand about possibilities for the future.
In red count the bearish Elliott Wave analysis .. if it is it, we are on 3 Wave
About the actual situation I can see an Head and Shoulder on play .. (I don't like this type of pattern .. to trade with carefull) but the volume are decrease
In this case we will have a very deep short movement
The price after a good rally long is stopped without break the previus hot point 0,7840
This can say that we are on bearish trend. So I think that the final 5wave have a troncation and we can try to understand about possibilities for the future.
In red count the bearish Elliott Wave analysis .. if it is it, we are on 3 Wave
About the actual situation I can see an Head and Shoulder on play .. (I don't like this type of pattern .. to trade with carefull) but the volume are decrease
In this case we will have a very deep short movement
Note
actual situation is not clear.... The volume doesn't increase as aspected and price had a triple relative max under a big resistence area. This can suggest a potential short of price and completation of our pattern H&S
In other case the break of 0.7840 area can give a new top over 0,8
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