AU got a nice bounce on Friday, even though it was mostly due to Dollar weakness. Nonetheless, the significant bounce should have at least an overshoot, if not something substantial.
I am looking for a ABC move, or like an AB = CD type of move, where the AB leg is almost duplicated by the BC leg. The final Target will depend on how deep the B wave retraces. Thus I have two possible paths for B to C, as well as the small green arrows in case of enthusiastic overshoot.
Lets see how this plays out early in the week.
This is idea is a follow up to my previous plan, which called for a short then long
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AU dipped as expected. It tried to bounce at the first support zone, but the US session knocked it down to the second support I am re-evaluating and will post a new Idea with updated zones.