I have been mentioning for awhile that I expected us to head to 9050 area on AUDUSD (www.tradingview.com/v/gSoJcQ7U/)
Here are a couple of scenarios that could play out sunday/monday.
First scenario is a shallow pullback to 8974 area and then make a harmonic move higher up to 9080
Second scenario is a deeper pullback to 8956 and then a harmonic move higher to 9060
Market profile supports both Ideas (gyazo.com/feeaf16590...6f0e4ad089c7de7d0c51)
I suspect scenario 2 is the most likely given that that was much more value in that area but it really depends on how aggressive the bulls are and how scared the bears are. 8974 is a lower edge of value from friday that could generate the continuation.
Let's see what happens. I am still long from Friday and will consider adding to my longs with the right price action at either of these two areas.
Here are a couple of scenarios that could play out sunday/monday.
First scenario is a shallow pullback to 8974 area and then make a harmonic move higher up to 9080
Second scenario is a deeper pullback to 8956 and then a harmonic move higher to 9060
Market profile supports both Ideas (gyazo.com/feeaf16590...6f0e4ad089c7de7d0c51)
I suspect scenario 2 is the most likely given that that was much more value in that area but it really depends on how aggressive the bulls are and how scared the bears are. 8974 is a lower edge of value from friday that could generate the continuation.
Let's see what happens. I am still long from Friday and will consider adding to my longs with the right price action at either of these two areas.