Update #2: AUDUSD: Where Is It Headed? Is It Still Lower?

It has reached and filled that Gartley EXACTLY as I predicted. If you went long on it, congrats! But now is the time to get out and take your profits! BOTH the Gartley and a long standing crab were both filled and prices have reached the .886 retrace of the previous move down retesting the highs. It may still move higher a little more or it may reverse here. No one can know for sure. But it is likely that we will be seeing some kind of reversal here soon. Maybe now.

In this 4HR chart, I have this move up being the wave (II) of the larger wave 5 down. That, my friends, would mean that we are going to be seeing a wave (III) down! And you all know what that means! Does that sound good? BUT...not so fast!

Here below, I have two different long term views on this pair. You can take a look and see however that BOTH views although different are both at this moment calling for prices to head back down. Mind you, these aren't the ONLY views there are on this pair but to me, they are the most logical.


I will be elaborating more on the long term outlook on this pair in both scenarios on my website in the coming days. If you want to see it and get a jump on this pair, well...you know what you must do!

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