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surfingmarket
Aug 30, 2017 11:19 PM

AUDUSD extremely to trade near term 

Australian Dollar/U.S. DollarFXCM

Description

Earlier, I publish a series ideas featuring short dollar positions. They all have worked out. However, the tide might have turned.
For the case of AUDUSD, the wave count is extremely complex.
1) a green count indicates that the pair is in the C wave of a larger 4th wave correction. Ultimately the pair is going to break a new high.
2) a red count indicates that the pair is turning lower broadly. and is currently in the choppy phase of 2nd wave of a 3rd wave.
3) a blue count indicates the up move is not yet finished, but in a 3-3-3 ending diagonal.

The bottom line is that the impulsive move of a 5-5-5 is really hard to pull out from the current structure.
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