AUD/USD swing trade setup
This AUD/USD pair could completed its correction already
Wave (1) = diagonal
Wave (2) = complex correction W-X-Y (expanded triangle)
Wave 1-2 (expanded flat completed last night 26/6/2024) of 3
If this wave count is valid, possible short term target (days-weeks) are
1) 0.68
2) 0.694
Price should not go lower than 0.664
If it goes lower than 0.658 -> this idea will be invalidated
Looking at DXY, this bullish idea may be possible
הערה
I think the small wave 2 is completed. On the way to first target around 0.680
הערה
Alright, so last night got stopped out.
Maybe this is most likely pattern/wave count here
with wave X is a complex combination.
Now this pair is likely forming its wave Y as a corrective pattern.
Could be an expanded flat. wave 2 waves remaining
or just a-b-c that will conclude around the 0.618 fib
If you want to trade breakout, wait until price break above 0.69
הערה
If price go above 0.668, i think that is our confirmation
However, we have Core PCE today, be prepared for increased volatility.
Invalidation point remains the same at <0.658
Bullish confirmation at 0.69
הערה
With DXY falling at the open this week, i think this support bullish scenario of all risk asset
הערה
Shouldn't come below 0.663 now
on the way to first target around yellow channel
הערה
Alright!
הערה
Trade is working nicely!
הערה
I'm not sure if we will see a small correction since this looks like first 5 wave is completed.
Be careful if you want to add to long position here
Look at DXY, I think it almost complete its 5 wave down, probably we will see it tonight.
הערה
Price hit 1st target
I expect the trend to continue
הערה
I think the wave 4 is a triangle, targeting 0.68350
with SL of 0.677
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כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.