AUDUSD - wait for the correction and sell

We can see that wave 3 has gone to the 161.8 extension of wave 1 which is normal. If it retraces now it should be a flat as wave 2 was a zig zag to the 61.8 fib. Thus we can expect the correction to go to either the 23.6, 38.2 or 50& levels. If wave 3 extends the correction is normally to the 23.6 but ocassionally the 38.2. Trading the correction is probably not a good idea. Wait for it to finish and sell.

Kommentera:

Two bounces off the 23.6 and maybe coming for another.