AUDUSD...the Kangaroo's Last Kick...Heeyaa !!

FX:AUDUSD   Australian Dollar / U.S. Dollar
From months of price movement...and multiple wave counts analysis.
Seems like our kangaroo...keeping its last kick. If it does, this one is gone hurt the greenback....badly.

This week price drops from peak of 0.7282, a bit random and scrambled as compound of corrective waves which can be described as (W)-(X)-(unfinished Y) blue.
As most news headlines this week describe for aussie weakness to dollar, and if so...the drop from 0.7282 should be in impulsive mode, but not in this case which is more corrective movement.

Rally from 0.7018 low made of impulsive 5 waves structure. If indeed, 3 waves formed as (b)....there should be a next move of 5 waves to complete the formation as a zigzag of (Y) to finish.
Also breakdown on lower time frame of (X) blue, show distinctive form of Triangle as the middle of a three wave (b?) magenta.
Double Divergence also noted at 4H chart.

Kick point....( Pivot point )..... of (Y) Blue at 0.7180 ( 61.8% of wave (a).
Hit at greenback's 0.7449 (100% extension of wave (a)....or...less ).

Key Levels:
Lower blue trendline ...unbroken, if it does...a possible sideways move of (b?)

Next week could be the start of the Kick.
We'll see then.....
?? No wonder... yesterday he won't jump..., I think he is preparing for his stances. What a Kangaroo..!?

Have a good weekend and Trading (Next week).
Comment: Thanks to Deb & Josphat89 for your feedback.
Next week we shall see how the wave will develop.
With double divergences on analysis on RSI show positif build up (high pressure) for buying. This might broke the 0.7281 peak...or..may not.
Updated Chart....should be a consideration for buying & not to get surprised if our kangaroo did not penetrate 0.7281, a possible scenario that the (b) correction can expand to a 3-3-5 Flat. If there is....
I could only provide at the smallest chart (15m)...quite hard to squeeze the 5m chart.
Comment: Trade set up for Aussie's Kick...please proceed on latest Idea


romeo2858 Mughal2657
RSI on 30m and 1H still have good ratio (positif built up pressure). Will keep up at least for today.....but keep an eye on 0.7281 level.
if it bounce down....look at update chart above (yellow line). Possible FLAT pattern in effect 3 - 3 - 5.
is it head and shoulder pattern bro am i reading wright or wrong
Thanks for sharing your thoughts. It's could be a very short tail as well. I see a 5 wave impulse is coming.
Totally agreed
romeo2858 Josphat89
Thank you. Updated charts, might could help to prepare the Long set up.
+1 Reply
I am new to charting trend lines on charts, although very impressed that my charting is on the same spectrum as yours. We will have to wait and see what direction the kangaroo will leap. This week we should have the decision. Happy Trading and thanks
Thanks for the feedback. Updated charts, might could help to prepare the Long set up.
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