Wave patterns are very complex , it's not about the lines we put on the charts ,it's not as simple a just selling or buying because a line you put was broken . Most of those lines get broken when a pattern is completed and we see a reversal.
This structure is in a z wave which could possible make one more wave down but that would complete the pattern and reverse.
Trade with care, use a strategy you have tested your self. Remember anything you put on the chart is just to help you analyze the chart structure and not to stop the structure from doing what it will do . So next time you hear someone says , the 200 will hold it or it has to bounce of the support or resistance ,you be very careful......
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also I noticed that from other chart related with AUD (GBPAUD, EURAUD, AUDUSD), seems that the expectation, AUD will weaken in near future.
what do you think? can we take that conclusion at the moment? (unless the structure changed).
thanks for all your great ideas, and awesome explanation, anil!