AUDUSD extremely to trade near term
Earlier, I publish a series ideas featuring short dollar positions. They all have worked out. However, the tide might have turned.
For the case of AUDUSD, the wave count is extremely complex.
1) a green count indicates that the pair is in the C wave of a larger 4th wave correction. Ultimately the pair is going to break a new high.
2) a red count indicates that the pair is turning lower broadly. and is currently in the choppy phase of 2nd wave of a 3rd wave.
3) a blue count indicates the up move is not yet finished, but in a 3-3-3 ending diagonal.
The bottom line is that the impulsive move of a 5-5-5 is really hard to pull out from the current structure.
For the case of AUDUSD, the wave count is extremely complex.
1) a green count indicates that the pair is in the C wave of a larger 4th wave correction. Ultimately the pair is going to break a new high.
2) a red count indicates that the pair is turning lower broadly. and is currently in the choppy phase of 2nd wave of a 3rd wave.
3) a blue count indicates the up move is not yet finished, but in a 3-3-3 ending diagonal.
The bottom line is that the impulsive move of a 5-5-5 is really hard to pull out from the current structure.
