its_new_wave
Short

AUDUSD: New opportunities for fall down

FX:AUDUSD   Australian Dollar / U.S. Dollar
I am still looking for short position in this pair.
Wave count show that movement from 0.80745 looks like a impulse wave (this count in related ideas) and have ended.
Now the pair are doing a correction wave: now it is looking like a zigzag (I will show a detail structure I will show at 30M chart later in comments).
In typical retracement for wave 2 it is a 61.8% - that almost complete.
If this count right, than the pair will fall down in wave 3 with first target at 0.73153 = wave 1 x 1.618%
Also, I this this falling will run until the 12th on May (in this period of time will be end H4 cycle)

For altcount this pair may falldown to the area of support leve (0.750 - 0.755)
UPD: Movement from 0.802 does not look a clearly impulse. Possible 2 ways for it:
a. sequence 1-2, 1-2 waves with next fall down with good aceleration
b. triangle pattern. now creating a-b-c in wave ((c)) or done
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UPD:
Wave 2 made a more deep correction, than I expected. I marked this correction on screen below. It is looking like a combination. This correction very exciting, cause the next movement down may be very strong and deep.
Now I think that wave 3 will extend: wave 3 may have next points: at wave 1 x 2 = 0.743; at wave 1 x 2.618 = 0.725
Also, I put sell stop at price: 0.7964 with SL: 0.8032
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Wave 2 at 30M chart
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its_new_wave its_new_wave
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