AUDUSD considering lenght of 2) we must be ending 4)
Daily Elliott Wave Count
The simetry in the elliott wave analysis is not a rule but an important guide to reduce de guess work to determine if a wave structure had been completed or not.
In this case, as we expected a clear retrace had been done since the end of the impulsive pattern for wave 3) with a nice fibonacci's level of 38.2 (the most common level of retracement for wave 4). Adding to this you can observe a cross over in the AO to confirm this idea, our expectancy is that the price, as soon as shows an upside turn (that should not be far from here) should go up again to try to reach a new high.
The simetry in the elliott wave analysis is not a rule but an important guide to reduce de guess work to determine if a wave structure had been completed or not.
In this case, as we expected a clear retrace had been done since the end of the impulsive pattern for wave 3) with a nice fibonacci's level of 38.2 (the most common level of retracement for wave 4). Adding to this you can observe a cross over in the AO to confirm this idea, our expectancy is that the price, as soon as shows an upside turn (that should not be far from here) should go up again to try to reach a new high.