New Cyclical Low?
The neckline Support turned into a resistance. The main trend is still . With Prices less than 0.726 i exspect the next downwave to my max. target shs @0.7036
The Chart only turns with Prices above 0.7462
AUDUSD reached Target1 TP1
The Pair reached TP1, the min. target of the shs . Now target 2 @ 0,7 can be aimed.
The is triggered. The neckline is based at the "2" - a break of it a nice 1-2-3 pattern (https://www.tradingview.com/chart/EURUSD/Xjknpt4S-Introduction-into-1-2-3-Trading-Pattern/) IMO a retest of the neckline should be exspected before the final "sell-off" comes.
A retest is typical for and a good entry for shorts for those who have missed the train. :-) Perhaps this could be a nice example for a Ross Hook.