AUD/USD: First attempt at EW count + bat!
First attempt at EW count (haven't completed full EW training yet, working on it...).
There's only one thing that bothers me about the last corrective count and that is that if we had the end of the smaller 5th wave of the larger 5th wave in the beginning of September then the corrective structure which I believe we are in (expanding triangle within the lowest 2 blue lines) should be larger than any of the preceeding corrections within the previous larger 5 wave structure... Or could we perhaps be forming an extended 5th wave??
In any case: selling the breakout of the expanding triangle is probably a good idea! Target at previous structure support (look left).
In case we go up now and complete the bearish bat I will be shorting based on that pattern (2 targets: 61.8 ret. and possible lower support level)!
I WOULD BE GRATEFUL FOR ANY COMMENT OR CRITICISM, GOOD OR BAD, BY ANY OF THE EW CONNAISSEURS ON TV...
There's only one thing that bothers me about the last corrective count and that is that if we had the end of the smaller 5th wave of the larger 5th wave in the beginning of September then the corrective structure which I believe we are in (expanding triangle within the lowest 2 blue lines) should be larger than any of the preceeding corrections within the previous larger 5 wave structure... Or could we perhaps be forming an extended 5th wave??
In any case: selling the breakout of the expanding triangle is probably a good idea! Target at previous structure support (look left).
In case we go up now and complete the bearish bat I will be shorting based on that pattern (2 targets: 61.8 ret. and possible lower support level)!
I WOULD BE GRATEFUL FOR ANY COMMENT OR CRITICISM, GOOD OR BAD, BY ANY OF THE EW CONNAISSEURS ON TV...
Comment:
Possible trade to ride the up wave:
