AUDUSD bullish scenario: AU extreme bull if Trade Wars turn?
Updated
Plot of possible AU trend change and bull run.
The EW waves are hard to follow, but I am seeing a Green path and a Blue path, I II III IV V of each color.
I think we are in wave III of one of those scenarios.
I have a lower order 12345 of each color to play out the wave III of larger order.
I am actually an AU bear, so will be looking for shorting opportunities.
I do NOT expect it to be anywhere near this bullish, but if the sentiment turns, AU could swing fast as we know.
But recent Trade Wars news from China seems to be positive for AUD and EUR sentiment.
Personally I think Trump negotiates by starting hard-ass, and then working towards a mutually profitable agreement.
I also think China will come to the table after some tough-talk, since they surely can not lose out on the US market.
If China and US start negotiating, then some of the AU bear pressure will release.
If China and US agree to something, then AU bull pressure will add to the move.
The EW waves are hard to follow, but I am seeing a Green path and a Blue path, I II III IV V of each color.
I think we are in wave III of one of those scenarios.
I have a lower order 12345 of each color to play out the wave III of larger order.
I am actually an AU bear, so will be looking for shorting opportunities.
I do NOT expect it to be anywhere near this bullish, but if the sentiment turns, AU could swing fast as we know.
But recent Trade Wars news from China seems to be positive for AUD and EUR sentiment.
Personally I think Trump negotiates by starting hard-ass, and then working towards a mutually profitable agreement.
I also think China will come to the table after some tough-talk, since they surely can not lose out on the US market.
If China and US start negotiating, then some of the AU bear pressure will release.
If China and US agree to something, then AU bull pressure will add to the move.
Note
Well this plan was running perfectly, and with a really nice bounce in my support zone. But then the weekend happened, Trump Tweeted, China Sqauwked, and now Trade Wars are moving away from resulution. So I am CLOSING the position for now. I still think US and China will come to a resolution, but expecting a dip here after the weekend gap down. 
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