AUDUSD in correction for a move up to come
i am expecting another move up after that correction down is finished.
price level for turning point is likely to be the coincident of the 0.618 retracement
of the previous upmove together with the 1.272 extention of the first downmove within the corrective structure we are in right now.
so be ready at 0.7577 something level for a turning to the upside
there is additional sign for going long if another "hill" of green macd histogram crosses the yellow line (see bubble) and i think the idea is invalidated and it becomes more like a sell setup when a "hill" in the red macd histogram touches the other line (see lower bubble info text)
price level for turning point is likely to be the coincident of the 0.618 retracement
of the previous upmove together with the 1.272 extention of the first downmove within the corrective structure we are in right now.
so be ready at 0.7577 something level for a turning to the upside
there is additional sign for going long if another "hill" of green macd histogram crosses the yellow line (see bubble) and i think the idea is invalidated and it becomes more like a sell setup when a "hill" in the red macd histogram touches the other line (see lower bubble info text)
Comment:
likely that the downmove to the 0.618 retracement comes now after the move up. definitly still in play.
now consolidating above it.
wait for break of that consolidationt o the upside and enter then