This AUD/USD pair could completed its correction already
Wave (1) = diagonal Wave (2) = complex correction W-X-Y (expanded triangle) Wave 1-2 (expanded flat completed last night 26/6/2024) of 3
If this wave count is valid, possible short term target (days-weeks) are 1) 0.68 2) 0.694
Price should not go lower than 0.664 If it goes lower than 0.658 -> this idea will be invalidated
Looking at DXY, this bullish idea may be possible
코멘트
I think the small wave 2 is completed. On the way to first target around 0.680
코멘트
Alright, so last night got stopped out. Maybe this is most likely pattern/wave count here with wave X is a complex combination. Now this pair is likely forming its wave Y as a corrective pattern.
Could be an expanded flat. wave 2 waves remaining or just a-b-c that will conclude around the 0.618 fib
If you want to trade breakout, wait until price break above 0.69
코멘트
If price go above 0.668, i think that is our confirmation However, we have Core PCE today, be prepared for increased volatility.
Invalidation point remains the same at <0.658 Bullish confirmation at 0.69
코멘트
With DXY falling at the open this week, i think this support bullish scenario of all risk asset
코멘트
Shouldn't come below 0.663 now
on the way to first target around yellow channel
코멘트
Alright!
코멘트
Trade is working nicely!
코멘트
I'm not sure if we will see a small correction since this looks like first 5 wave is completed.
Be careful if you want to add to long position here
Look at DXY, I think it almost complete its 5 wave down, probably we will see it tonight.
코멘트
Price hit 1st target
I expect the trend to continue
코멘트
I think the wave 4 is a triangle, targeting 0.68350 with SL of 0.677