MichaelMesfin
Short

Reversal zone for AUDUSD using Elliott Wave

FX:AUDUSD   Australian Dollar/U.S. Dollar
Price appears to be correcting in a wave iv. Heavy fib resistance zone between .92566-.92910. Wave ii correction was relatively deep. so I expect this one to be more shallow with lots of consolidation. Probably will false breakout of the upper channel formed by projecting trend line from wave i to wave iii             from wave ii. Wait for price to enter reversal zone and look for bearish candle/bar patterns to trigger short for the last leg of this impulsive move down. Cover quick near 0.91900 as I expect the pattern to go into a higher degree correction.
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