AUDUSD complex correction (triple combination)
price acts as corrective structure and looks like a double combination or triple combination.
still there is no trade setup, we have to wait to see a clear structure.
There are 2 different labelings, blue one is WXY correction ending with an ending diagonal ( red numbers refer to blue scenario and ending diagonal) and green one is WXYXZ which is not finished yet; if the blue one is correct and wave Y is an ending diagonal, price have to move upside to the beginning of the ending diagonal at the same time of forming ending diagonal.
Note the divergence
still there is no trade setup, we have to wait to see a clear structure.
There are 2 different labelings, blue one is WXY correction ending with an ending diagonal ( red numbers refer to blue scenario and ending diagonal) and green one is WXYXZ which is not finished yet; if the blue one is correct and wave Y is an ending diagonal, price have to move upside to the beginning of the ending diagonal at the same time of forming ending diagonal.
Note the divergence
Comment:
this WXYXZ corrective pattern is at last stages and maybe crawl some pips to downside but eventually it will break to upside
Comment:
I'm still waiting for long setup.
Comment:
We have to wait until the structure develops more for a clear trade setup.
I don't think price break the t-line, but if it breaks, I don't have long entry setup ( because i think this structure has not finished yet) until a correction and clear structure forms.