3 lobes on MACD completed, weekly correction imminent on audusd
on the weekly time frame we have already or very closed of having completed a perfect descending MACD with 3 lobes. after such a perfect pattern, an important correction must arise. taking long positions on audusd at any point where audusd touches or is very close to its lower BB on daily or weekly timeframe is optimal.
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profit taken on first stage of correction, waiting to see how it evolves before deciding what to do
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the setting for the temporary correction is over, we need to stay above 0.73230 for more upside otherwise it will collapse
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the three lobes structure has not been degraded by the failed usd attempts to hammer down audusd. the structure keeps telling usd that an important upside move positive for aud is underway.
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i emit a warning, actually with today's session the structure shows signs of degradation, we must stand by for now and see how react the support 0.735
