EUR/AUD ELLIOT WAVE MOTIVE WAVE 5 BEGINNING

21. Juni 2018

wave 3 was and extended impulse wave the reached 1.618 of wave 1 and when drawing a trentline from top of wave one t top of wave three I saw that where the end of the fish wave will be is almost exactly the length of wave one which is textbook considering wave three was the extended impulse wave within this 5, I was looking for shorting oputurnties off the retest of the Trent line we just broke and made some good intraday profits but I hadn't of realized the Elliot wave here, been reading the Elliot wave principle by frost and prechter and have learned alot so from from book, now for entry since never buy tops and rn price have been moving up im going to wait for a further break of this upward trending support line then look to enter in on a retest hoping price doesn't close below the level, this would be a long term swing trade but knowing the directional bias could be helpful to intraday trade this but definitely some pipits be made here even if wave 5 turns out to be a truncation,
please leave some feedback/ideas based of my anaylsysis it would be greatly appreciated and hopefully mutually beneficial