As shown AUDUSD is showing some nice bearish sentiment. It first broke the trend line and impulsed downward to broke the structure of the bullish movement. These are indication we may be in Wave 1 of the Elliott Wave Theory.
Second the pair retraced to the Key FIB level at 50% and showed a strong resistance to the upside, also breaking another trend line indicating this could be the end of Wave 2 and Wave 3 could be forming. Wave 3 is usually the most volatile wave and would be a strong impulse downward.
I have this Idea being invalid 0.71552 and TP @0.67161 and TP 2 @0.65123.
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Second the pair retraced to the Key FIB level at 50% and showed a strong resistance to the upside, also breaking another trend line indicating this could be the end of Wave 2 and Wave 3 could be forming. Wave 3 is usually the most volatile wave and would be a strong impulse downward.
I have this Idea being invalid 0.71552 and TP @0.67161 and TP 2 @0.65123.
Upgrade your trading with me
For FREE SIGNALS and if you would like to see updates on this idea and many more please follow:
@wrightwayinvestments
@wrightwayinvestments
@wrightwayinvestments
✅ Hit the like button, and share for more!
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AUDUSD is currently showing a nice decline!
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Still going strong!
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TP 1 CRUSHED ALMOST AT TP 2