For my previous post and context see link below:
Wave 4 corrected more than anticipated at first but the characteristics are pointing to a high to be in place. At least short term. What I mean by that is that either way I expect another leg lower after a consolidation. So I'll be waiting for a consolidation to sell the bearish continuation for either wave C or wave 3 lower. If price trails higher I simply let it go but I don't expect to see that today or tomorrow.
Updates will follow.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
Wave 4 corrected more than anticipated at first but the characteristics are pointing to a high to be in place. At least short term. What I mean by that is that either way I expect another leg lower after a consolidation. So I'll be waiting for a consolidation to sell the bearish continuation for either wave C or wave 3 lower. If price trails higher I simply let it go but I don't expect to see that today or tomorrow.
Updates will follow.
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
Comment:
AUDUSD seems like it is starting its correction after what I have counted as either wave 1 or A lower. I think that this consolidation might be setting up the next sell trade for FOMC this Wednesday. However it is too soon to tell but I like to see at least 3 waves higher. Keep in mind that we are in the early stages of this consolidation and the ABC wave count is indicative.
