This is what I see......
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DislikedBroken 1.0410 I think the wedge is over... If the triangle was not to perfect I will think another high to 1.060, but I dont think so. Aussie has been move in a ABC correction pattern for while and it is obvious to think that it should continue and the correction will reach between 0,382 and 0,618 fib levels, but if there a correction and then a new low soon the a pattern would change and there will be a correction but the decline should be more deep than the chart...
http://www.forexfactory.com/attachment.php?attachmentid=1105154&d=1356319155...Ignored
DislikedBroken 1.0410 I think the wedge is over... If the triangle was not to perfect I will think another high to 1.060, but I dont think so. Aussie has been move in a ABC correction pattern for while and it is obvious to think that it should continue and the correction will reach between 0,382 and 0,618 fib levels, but if there a correction and then a new low soon the a pattern would change and there will be a correction but the decline should be more deep than the chart...
http://www.forexfactory.com/attachment.php?attachmentid=1105154&d=1356319155...Ignored
DislikedBroken 1.0410 I think the wedge is over... If the triangle was not to perfect I will think another high to 1.060, but I dont think so. Aussie has been move in a ABC correction pattern for while and it is obvious to think that it should continue and the correction will reach between 0,382 and 0,618 fib levels, but if there a correction and then a new low soon the a pattern would change and there will be a correction but the decline should be more deep than the chart...
http://www.forexfactory.com/attachment.php?attachmentid=1105154&d=1356319155...Ignored
DislikedYour chart indicates a zigzag. But, I think it is going to be a flat.Ignored
DislikedNicely done sir, I too am looking for a retrace here to around 1.046 and eventually a place to get short.
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DislikedYou got it. Lets ask to Santa a flat at aussie cause I am looking another high at euro dollar to complete the cycleIgnored
DislikedMy rationale behind a flat is because current a/B has only 3 sub-waves.Ignored
Dislikedah Ok! But I could show you in the same chart flats 5-3-5 and zig-zags 3-3-5 or 3-3-3Ignored
DislikedRight, looking to reenter on b wave for c wave if that makes sense as I too see an abc correction similar to what you posted. But I think that a will most likely end in 1.046 area. C? Who knows but prefer for it to play out as corrections are difficult to predict. So, c I would have a higher stop and will be predicated on what correction pattern develops.Ignored
DislikedI know there are some exceptions. But, I prefer to follow the typical formations 3-3-5 for current correction. If it turns out to be the formation, the Wave-c/B should not be as low as shown in your chart. IMOIgnored
DislikedRight, looking to reenter on b wave for c wave if that makes sense as I too see an abc correction similar to what you posted. But I think that a will most likely end in 1.046 area. C? Who knows but prefer for it to play out as corrections are difficult to predict. So, c I would have a higher stop and will be predicated on what correction pattern develops.Ignored