AUDUSD - Bearish Continuation
As shown AUDUSD is showing some nice bearish sentiment. It first broke the trend line and impulsed downward to broke the structure of the bullish movement. These are indication we may be in Wave 1 of the Elliott Wave Theory.
Second the pair retraced to the Key FIB level at 50% and showed a strong resistance to the upside, also breaking another trend line indicating this could be the end of Wave 2 and Wave 3 could be forming. Wave 3 is usually the most volatile wave and would be a strong impulse downward.
I have this Idea being invalid 0.71552 and TP @0.67161 and TP 2 @0.65123.
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Second the pair retraced to the Key FIB level at 50% and showed a strong resistance to the upside, also breaking another trend line indicating this could be the end of Wave 2 and Wave 3 could be forming. Wave 3 is usually the most volatile wave and would be a strong impulse downward.
I have this Idea being invalid 0.71552 and TP @0.67161 and TP 2 @0.65123.
Upgrade your trading with me
For FREE SIGNALS and if you would like to see updates on this idea and many more please follow:
WrightWayInvestments
WrightWayInvestments
WrightWayInvestments
✅ Hit the like button, and share for more!
Note
AUDUSD is currently showing a nice decline!Note
Still going strong!Note
TP 1 CRUSHED ALMOST AT TP 2
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.