short term waves appear to be a 5 waves up, loaded up longs if this is wave 3 it shall spike up strongly, if wrong we shall see another minor low
it gave me a handsome profit and position is all closed near the low on the chart pending retracement now hopefully let me load up some short for another test lower
the retracement is shallow and do not give me chance to add more shorts, but it gives me fast and handsome fall and profit now waiting for retracement to add more shorts
this should be wave I, if we see a strong move down, it will probably be wave iii lets see how this play out in the next couple of days
similar to other usd pairs, the trend is still strong and missing a leg for aud I am looking for another leg up to complete the sequence follow by another correction before higher again
looking for 50% region to be tested, after which mr market will decide if it want another sequence up or that top is already in and go for new low
this is the dxy chart that was supposed to be posted yesterday, which was posted with the not updated eurusd the bigger picture suggest it is still missing a leg down to complete the move
previously i posted a eurusd chart that was not updated, that was suppose to be dxy which is updated therefore you can find multiple mislabeling here is the updated chart and the we are looking for another high to complete the missing leg
this should complete the corrective move down, once we see a minor 5 waves up, bulls should be back for new high
what price show now is a clear WXY even though other are counting it as a 5 waves up pending more waves up to complete wave 5. I prefer to interpret what price tell me NOW and not act smart and count based on what I think it will become Until price change and tell me otherwise, it is WXY now a drop will confirm it, good luck
although price appear to have peak, do not rule out it could still go higher to complete ending diagonal unless price goes lower or form clear 5 waves down, bulls could come back
the main trend is still bullish and it is still missing leg up hence fall is a good opportunity for me to reload long
same with general usd trend, cad is still bearish, looking for new low and will keep selling or adding if waves support this idea
many E Wavers count this a 5 waves up, however it look more like a wxy to me am therefore short term bearish and may hold for new low if price is supportive of the idea
at least for the short term if audusd is to reverse back up
at least for the short term, else we could see new high if it is just a wxy
will look to sell it if it look complete and break below wedge
suggest price not ready to go up and could drop a leg first before bouncing back up