AUDUSD completed C wave on Friday last weekend and it seems that it entered the next cycle.
Consider the following two patterns as counts.
1) Currently in the second wave of the new promotion 5 waves, it rises to 0.80800.
2) zigzag is being formed and going down.
I will short if the price falls below 0.78725. The reason is that 1 is denied.
After breaking through 0.79380,because the rise may continue,I wait for 0.79300 and enter a long.
The maximum reaching goal is 0.77800 which satisfies the value range of the first wave * 2.618. (anyway,I will take profit around R3(Pivot)
Consider the following two patterns as counts.
1) Currently in the second wave of the new promotion 5 waves, it rises to 0.80800.
2) zigzag is being formed and going down.
I will short if the price falls below 0.78725. The reason is that 1 is denied.
After breaking through 0.79380,because the rise may continue,I wait for 0.79300 and enter a long.
The maximum reaching goal is 0.77800 which satisfies the value range of the first wave * 2.618. (anyway,I will take profit around R3(Pivot)
Trade active
Trade active:
GO!GO!GO!
Trade closed: stop reached