Chartistry

$AUDUSD | Wolfe Wave & ABC Correction | 0.81633 Target

FX:AUDUSD   Australian Dollar/U.S. Dollar
Hello Traders,

Here is a great long set up in AUDUSD             . It is currently in a corrective structure and is looking to complete the Wolfe Wave and the ab=cd pattern.
Comment: Update: A break of the current supporting trend line will invalidate this Geo' formation. Updates to come as price develops.
man you are a genius.. thank you for your ideas
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hassan11, I am merely a student. Thank you for your continued support and humbling comments. I really appreciate it.
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Short upon ABCD completion.
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Great stuff. This would be the ideal situation.. but unlikely target given how sluggish the up trend has been. Do you think there is a legitimate motive structure count for the new price data?
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Chartistry PRO WaveAlchemy
Hello @WaveAlchemy,

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As of today I do not see any more room for this pair to go up. This would result in the failure of the ab=cd pattern I have listed there. I have shown in the past that Fib levels within the CD leg often act as resistance levels and the overall failure of the ab=cd pattern in the Geo'.

I'm not quite sure what you mean by motive count, but to answer your question on the direction of the this pair; I would say the move up has been exhausted and bears will push their weight down on this pair...for now.

Does this answer your question?

Best,
Chartistry
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WaveAlchemy Chartistry
Hello @Chartistry,

Yes I too believe that this will be a failed zig zag. I am short! Wish me luck.

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