AUD/USD Elliot analysis
Technicals:
* In the previous impulse the rule of alternation was satisfied by wave 2 being a flat and wave 4 being a zigzag, therefore validating the impulse.
* In our first ABC correction we came to the .618% and was a zigzag in nature, and now we are in the process of a double combination.
* This next corrective structure could be anything really, I am starting the feel like it may unfold into a flat since we are very near the 0.786% retracement level.
* In any case this is a good buy for either a 3 wave corrective impulse or a 5 wave impulse.
Goodluck guys.
* In the previous impulse the rule of alternation was satisfied by wave 2 being a flat and wave 4 being a zigzag, therefore validating the impulse.
* In our first ABC correction we came to the .618% and was a zigzag in nature, and now we are in the process of a double combination.
* This next corrective structure could be anything really, I am starting the feel like it may unfold into a flat since we are very near the 0.786% retracement level.
* In any case this is a good buy for either a 3 wave corrective impulse or a 5 wave impulse.
Goodluck guys.
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