The AUDUSD is consolidating after the break out of the triangle. Have a look for context in my previous post.
I'm looking for at least a 3 wave correction for a new sell opportunity. In the ideal scenario we saw a wave A completed at 0.7060 with wave B currently in progress. Wave C should complete the correction/consolidation by means of a test of the triangle support/resistance line. Keep in mind that later today we have FOMC on the agenda which will likely increase volatility.
However if we see a 3 wave correction followed by a bearish break out of the consolidation I will sell this pair.
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I'm looking for at least a 3 wave correction for a new sell opportunity. In the ideal scenario we saw a wave A completed at 0.7060 with wave B currently in progress. Wave C should complete the correction/consolidation by means of a test of the triangle support/resistance line. Keep in mind that later today we have FOMC on the agenda which will likely increase volatility.
However if we see a 3 wave correction followed by a bearish break out of the consolidation I will sell this pair.
www.timstuyts.com
facebook/timstuyts/
