CurrencyWaves
Short

#AUDUSD Daily Elliott Wave Count

FX:AUDUSD   Australian Dollar/U.S. Dollar
Looking at this recent drop as wave 1 still in progress. I will be shorting any bounce with stops above .77783.

A bounce in the RSI to 50 or 60 would be a good sell signal. If the following drop is a 3rd wave I would like to see the RSI break below 40 and even 30.

I am showing the Fib extensions with Andrews Pitchfork for target areas.
Comment: Leading Diagonal?


snapshot
Hi there and thanks for your counts.
I'm wondering what you think of the possibilities below ?
If the Nov peak is wave B then it's 5 waves down to C.
If the Nov peak is wave 2 then it's 5 waves down to 3.
Either way, I'm only seeing waves 1 and 2 completed with wave 3 in play.
Cheers
John
Reply
I was just thinking this is possibly a leading diagonal. Its all 3 waves down 3 up 3 down 3 up. but still not clear. lets see :S
Reply
very much possible. thanks
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