AUDUSD - Downtrend has resumed - Going for new low - Great R/R!
We should be in the fourth wave of this 5 wave decline.
On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone.
A drop below wave a high of 5935, would increase the odds in our favor.
Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the count might be wrong.
On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone.
A drop below wave a high of 5935, would increase the odds in our favor.
Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the count might be wrong.
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Note that even if the 15min count gets invalidated, the bigger picture remains intact as long as price stays below 6435 !
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Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
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Thanks !