Taking a look at the AUD/USD on the 15-minute chart, my Elliott Wave analysis tells an interesting story. We've seen a completion of what appears to be an intricate corrective structure with Wave (4), and the currency pair now seems poised for an impulsive Wave (5). Based on this pattern, I'm expecting a push towards the 1.618 Fibonacci extension at 0.64765, providing a strong basis for a long position. The completion of the previous subwaves gives me confidence in this setup, suggesting that bullish momentum could soon be in play. It's crucial to monitor the price action closely for signs of continuation in the trend, but as always, traders should not overlook the importance of maintaining tight risk controls to protect against unforeseen reversals
Trade active:
Is going in the right direction
Trade closed: target reached
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