AUDUSD about to bounce? AU dips to watch for long entries

29 oct. 2018

AU got a nice bounce on Friday, even though it was mostly due to Dollar weakness.
Nonetheless, the significant bounce should have at least an overshoot, if not something substantial.

I am looking for a ABC move, or like an AB = CD type of move, where the AB leg is almost duplicated by the BC leg.
The final Target will depend on how deep the B wave retraces.
Thus I have two possible paths for B to C, as well as the small green arrows in case of enthusiastic overshoot.

Lets see how this plays out early in the week.

This is idea is a follow up to my previous plan, which called for a short then long

29 oct. 2018

Note

AU dipped as expected. It tried to bounce at the first support zone, but the US session knocked it down to the second support I am re-evaluating and will post a new Idea with updated zones.