AUDUSD 181112

Hi Evian,

Thanks for your comment and this is a post dedicated for you on AUDUSD. This post can also be read by those whom are interested or trade on this pair. I am trading still on AUDUSD but just that I didnt do any posting for it.First of all let's look at the daily chart as show below:

The wedge which is for wave B is already completed at point E as shown here. But something you might want to take note is that of the wave E end point did not really hit the upper trendline of the wedge.So what does that tells you?It might signal that the upwave is losing momentum drastically and this C wave down will be very drastic. (Btw if you were to look at my Gold chart posting today, you will notice Gold and AUDUSD is going into the same wave ,which is wave C. It is not called a commodity currency for no reason. :) ). I feel that the wave C will eventually hit 0.9944 as its primary target. And of cause there will be up and downs where you should look into to short ( since this trend is a down trend). This is as much as I would want to say about AUDUSD, as for when to initate your trade, look into the wave internals that will be formed along the way. Happy trading! ;)

By the way if you look into the 4 hr chart, do look for the retest of the lower trend line of this wedge for good short entry if this line is meant to be tested again.