AUDUSD temporary Bottom: AU hit targets for downmove

This is a follow up to my short play posted last week

Looks like a prefect 12345 impulse has completed.
There should be a retrace now, and looks to be underway.
Pullbacks to support zones could be long entries.

BUT consider the Holiday week, and US banks are closed on Monday and Tuesday.
So I am NOT taking any trades here. I DID close my shorts and wait until Wed for any more trades.

Though I would post this for observation purposes, and for marvelling at the PERFECTION of Fibs!

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Background:
I am a longer term AUD bear, anticipating a serious drop yet to come

Since then I have been looking for shorting opps such as this plan:

After some good news about the US-China Trade War, I was expecting a significant move up:

As the above impulse wave up was ending, the top came into focus for shorts

My last plan was to let wave 4 retrace (up) take place and then try to catch wave 5 down

So the current Idea is to wonder about longs after Xmas and maybe a little dip

评论:

AU at a critical price here