ForexPhantom
Short

EURAUD - Short Wave C

FX:EURAUD   Euro / Australian Dollar
Good morning boys and girls!

As I mentioned yesterday in my AUDCAD analysis I am getting more and more comfortable using the EW theory. Still, I am very novice and always appreciate constructive critique.

The way I see it, the wave C has started. As we know, a wave C consists of 5 sub-waves. If I get it right, wave 3 of 5 has just started, aiming for lower than the initial A wave! That could potentially be a savage cash-cow!

I went short pre-maturely, guessing the end of wave 2 within the C and was behind for some time but now it all unfolds to my advantage.

Things I am missing are:

- I am not sure if wave 1 of C is already an extension?
- If so, wave 3 and 5 will turn out as "normal" waves

Based on that I keep a close eye on the count, however the C will dip below the A - if I have it right :)

Good luck!
Comment: Wave 3 is in full swing. Looks I've got this one right :)
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