One more low for AUDUSD, before reaching new Highs! Looks like a falling wedge forming.
Expecting this pair to break the 7/27/2017 High before looking for a sell set up. Risk/Reward 1:10
Possibly a wave five has started at the top of the correction I'm expecting a nice three waves down before bouncing up.
I expect a C wave down to complete the Zig Zag. Wave (A) five waves down, wave (B) three waves up and waiting for the next (C) five wave down.
Daily and weekly trends seem to be going up, while the monthly trend is going down.
Key: Green: Monthly Tend Lines. Thick Lines Outer Trend, Thin Inner Trend. (set on monthly resolution) Purple and green lines are possible outcomes. (120 resolution) Blue lines are points of possible trend changes. Currently seeking the buy and sell signal as price action approaches the blue line which to me states a good entry point into a short/long...