bearish flag before bullish action ??

1 thg 11, 2015

price is actually into a bearish flag, constructing a potential zigzag elliot's pattern that could put the AUDUSD on the 0.71160 level (witch is the neckline of an inverted head & shoulders, a pullback on a trend line, a fibonacci cluster (retracement + expansion), a retest of an Andrew's pitchfork MLH, and a potential bounce on the MA200.....). if the market go till this point, it will be the end of the wave 2 of the Elliot wave 3, so a beautiful bullish action could start.

BUT, everything's not pink...there"s another fibonacci cluster at 0.71240 (and price has already almost reached this level) but not the energy point). furthermore, RSI & stochastic are both laying on bullish trendline, so for the momentum, price could yet go higher.

PS : Sorry for my poor english (it's very hard for a french guy...)