AUDUSD SHORT - Now its time to short
When your analysis is slightly off you need to cut your losses and take some profits in this case took some profits because I was one wave early. (See related idea)
Wave 2 correction finished Friday and staged a reversal.
We are in a C wave down of a still corrective structure so there are some killer C wave profits to be made and after this there is one more corrective wave up until the correction is done and then the larger wave 3 can commence.
My initial analysis called for the real wave 3 to start now but it doesn't seem that way just yet so we are still corrective which means EURO is also still corrective. (I will post a separate chart)
So stop above the recent high and target roughly the 64 cent area. We cannot know for sure exactly where it will fall to but as the waves progress I will provide updates.
Wave 2 correction finished Friday and staged a reversal.
We are in a C wave down of a still corrective structure so there are some killer C wave profits to be made and after this there is one more corrective wave up until the correction is done and then the larger wave 3 can commence.
My initial analysis called for the real wave 3 to start now but it doesn't seem that way just yet so we are still corrective which means EURO is also still corrective. (I will post a separate chart)
So stop above the recent high and target roughly the 64 cent area. We cannot know for sure exactly where it will fall to but as the waves progress I will provide updates.
Comment:
The final corrective wave on this one was neverending but finally now it should continue lower.
Comment:
Wave 3 has broken out to the downside, this is it.
