This is a follow up to my short play posted last week
Looks like a prefect 12345 impulse has completed. There should be a retrace now, and looks to be underway. Pullbacks to support zones could be long entries.
BUT consider the Holiday week, and US banks are closed on Monday and Tuesday. So I am NOT taking any trades here. I DID close my shorts and wait until Wed for any more trades.
Though I would post this for observation purposes, and for marvelling at the PERFECTION of Fibs!
.
.
Background: I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opps such as this plan:
After some good news about the US-China Trade War, I was expecting a significant move up:
As the above impulse wave up was ending, the top came into focus for shorts
My last plan was to let wave 4 retrace (up) take place and then try to catch wave 5 down
So the current Idea is to wonder about longs after Xmas and maybe a little dip