TradingSutra

AUDUSD: FLAT CORRECTION

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
On a larger degree front , AUDUSD made a 3 down & 3 up wave formation which suggests that a FLAT pattern is in formation,as long as it maintains below the previous highs. An ending diagonal is forming on lower degree as wave-c which suggests that the 3 up formation is going to exhaust . We should see a five wave down rally if the flat corrective pattern is forming !
Trade closed: stop reached
Manish Bhardwaj

Analyst & Co-Founder
http://www.tradingsutra.com

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