Still in an uptrend Audusd
gives us a nice opportunity to add a position to our long or for those who didn't enter earlier, to jump in. Price is obviously in a corrective structure having already completed wave a and b of an abc
corrective pattern. If it continues going south besides of compliting abc
pattern we will also have two more harmonic patterns
completions with their D points at key support zone
. (Looking at butterfly's fib level we can see that AB leg almost closed at 0.786 of XA leg. It's still valid to me).
I will personally enter this market after the butterfly
is completed. Stoploss and profit targets as shown at the chart (two positions).