We were looking for a slightly higher high before the bearish reversal for wave 'C'. It is an IF=THEN process so when the plan works out to the pip, one trade will be enough to make your month by means of a risk/reward trade of at least 10/1.
Nevertheless I still think AUDUSD will reverse bullish once wave C is in place for a third leg higher of larger degree. It is interesting to see USDCAD and AUDUSD both ending a major corrective structure on the daily time frame. The dollar bulls might be losing momentum soon...
for previous post and context see link below:
Nevertheless I still think AUDUSD will reverse bullish once wave C is in place for a third leg higher of larger degree. It is interesting to see USDCAD and AUDUSD both ending a major corrective structure on the daily time frame. The dollar bulls might be losing momentum soon...
for previous post and context see link below:
Comment:
First scenario: watch for clues that wave 4 is over. Keep in mind this is one scenario based on ending diagonal rules. If the rules are broken we move on to the next scenario.
