UPDATE #2: ANALYSIS: AUDUSD - MASSIVE MOVE UP COMING!

As promised, I will be updating this pair often to keep everyone up-to-date as possible to catch this move.

From the recent price movements, I have readjusted my wave count somewhat. Now what I am seeing is that the wave (1) of this move up is moving up to complete. The recent move down, if finished could've been the wave (iv) of that wave (1). So that means that the next move is a wave (v) up to complete the wave (1). Once that wave (1) is done, then expect a wave (2) to retrace back down maybe to retest that bottom low before commencing the wave (3).

For now, prices just BARELY missed my BUY LIMIT order at .70710 by 2 pips before reversing back up! DARN! While there is still a POTENTIAL Bat waiting to be filled below that level, chances are that bat will not fill now if we are looking at the wave (v) of (1) now.

So now, if this wave count is correct, do we BUY now? Or wait until the wave (2) occurs and finishes maybe next week? If to BUY now, the SL will need to go below the lows. It's not too large a SL if you do so but will need to stand strong and withstand the drawdown. Any move down from here will be good places to BUY though.