AUDUSD might have another week Long. I have two positions on this pair. Maybe by the end of the week they will hit my targer and will look to see if after wave 5 of 5 on wave c Reverses.
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We should still have one leg up. DXI looks to be going down that would help AUD to move a bit higher and then reverse. Look at updated charts below.
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TAS_is_Goliath_Capital_Growth
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DXI
TAS_is_Goliath_Capital_Growth
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Triangle
ahmetnmsl
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What is your next target to enter long again ?
TAS_is_Goliath_Capital_Growth
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Hi, I have already two positions. Will not add on this pair. If you are a intraday, you can wait for a pullback and enter, I'm expecting price to reverse soon as it will hit the red trendline and the end of wave C at the same time. what timeframe do you trade on?
ahmetnmsl
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I trade long term. 3-4 months.. from your explanation above,i understood you have already open 2 positions and waiting the price to hit the trend line and reenter for 3rd position at the break.. my long term target and bias is short for audusd.. but i am open to new opinions.
TAS_is_Goliath_Capital_Growth
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Yes, long term I'd also be short. I trade the 4H. Just noticed there's a a triangle which moves my target for the Potential Reversal Zone a little higher. Will look for a shor then. But I agree with you so far from whar the chart shows, after this wave C the down move might continue down quite a bit.
ahmetnmsl
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Yes there is a bearish triangle and i think as long as the price follows the bearish triangle , the target is short i think.
TAS_is_Goliath_Capital_Growth
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On the weekly yes I agree there's a big short. Though this week I think it will go to close to 0.79400. Then I'll get bearish. So far I'm long and in profit, just waiting for the reversal and I expect to be around that price. This would be my weekly view