Based on fib levels and laying a Schiff , there should be a wave 4 down. However, my current trading rules are I only trade when I get a clear cross-over on Stochastics.
I may therefore miss Wave 5 up simply because stochastics will not cross below 20%? Any recommendations from seasoned traders if I have conviction on trading patterns? Any other indicators (MACD?) that would help?
It's now approaching 1.618 fib projection of wave 1. Surely this is where there will be a respite to catch Wave 5?
This may have a long way to go considering all the ground AUD needs to make up since 2016.