DislikedAUDUSD - wave e of the contracting triangle seems to be a forming a barrier triangle itself like on the chart below. Assuming that the scenario plays out as anticipated, we can project upside thrust out of the triangle to reach ~1.20. However, I am not familiar with this pair's price history and wave count so the time projection for the start of such a large move is uncertain.
The size of the move (in favour of AUD) implies USD weakness and it would make sense for the thrust out of the triangle to coincide with wave 2 corrections in the...Ignored
I have slightly different count but that is great because soon it will play out. My target is 1.08. We will see. Similar, but mine has less upside, less downside, and less forecasted range.
The big difference I believe is due to the fact I removed noise (candles) and used a bar chart. That dramatically changes the tl's in this case. Something I am experimenting with to test efficacy.
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