Hello Traders, Hope you had a good trading week like i did. Today i did a wave analysis on a 4 hour chart on AUD/USD and price still look bullish, notice how the 50,100 and 200 still shows strong support, however we may getting close to a major reversal as price get closer to previous support levels (resistance levels now). For this analysis to be valid i will be looking for a breakout to the upper channel line as my entry point OR go short after the 5 wave formations
Trade closed: target reached:
It's Amazing how the wave principle works