AUDUSD appears to be close to finishing another 3 wave structure labelled as C-D.
It has made a short term correction following from an impulse.
It also seems to have broken out of the short term correction trendline and began its move downwards.
I expect the impulse to end at point D and begin another 3 wave pattern upwards completing at E.
Once D has completed I would begin looking for possible entries.
If no sign of entry at the beginning of wave 1, then I would aim to enter after the corrective 2nd wave structure is broken.
This would end at E.
Thanks.
It has made a short term correction following from an impulse.
It also seems to have broken out of the short term correction trendline and began its move downwards.
I expect the impulse to end at point D and begin another 3 wave pattern upwards completing at E.
Once D has completed I would begin looking for possible entries.
If no sign of entry at the beginning of wave 1, then I would aim to enter after the corrective 2nd wave structure is broken.
This would end at E.
Thanks.
Kommentera:
AUDUSD made a slightly longer than expected 3 wave correction, weak downside has resumed and I still expect prices to rise once hit or close to trendline.