This is an update from the last analysis as it looks like there is not enough momentum in the market just YET to push AUDUSD down further. This is expected as its the end of the year and liquidity is low in the markets. The correction channel has also gone wider indicating that price could keep correcting & consolidating a little longer before any drop starts.
To play this move safe, wait for AUDUSD to finish Wave C around the 0.7300 then WAIT for price to melt back down towards the lower part of the channel and show you there is selling momentum. A break of the trendline with heavy selling pressure would be the best time to take any sells by placing a SELL STOP. Do not force any sells if market carries on going up.
Drop a like if you agree and follow for more analysis. Let me know in the comments if you disagree.
To play this move safe, wait for AUDUSD to finish Wave C around the 0.7300 then WAIT for price to melt back down towards the lower part of the channel and show you there is selling momentum. A break of the trendline with heavy selling pressure would be the best time to take any sells by placing a SELL STOP. Do not force any sells if market carries on going up.
Drop a like if you agree and follow for more analysis. Let me know in the comments if you disagree.