Depending on how this structure develops, a quick trade opportunity might develop from 0.67290 to 0.67510. The low of 12-14-2023 may have already completed the correction of the prior day's high. The structure fits, but I don't like its size. Combined with my anticipation that NZDUSD is not done correcting, we could see AUDUSD pull back further as well. Doing so will only present a better trade setup as the correction more clearly finishes at a lower price.
In the meantime, I'm willing to take a quick trade up to 0.67510 (which would be the 161.8% projection of wave 1, if pair is in a Subminuette impulse) if price breaks the 12-13-2023 high.
In the meantime, I'm willing to take a quick trade up to 0.67510 (which would be the 161.8% projection of wave 1, if pair is in a Subminuette impulse) if price breaks the 12-13-2023 high.