AUDUSD, WW, longterm
We have a correction after complete EWs as a bullish flag.
And we have 2 WW, last one completed just now.
There is a high chance of breaking the flag and going up at least to the last resistance.
So
1. 2 wolfe waves marked with green arrows;
2. Bullish flag with a strong support level that was rejected two times;
3. Complete EW before flag makes it a correction before the next long move
Few different outcomes in order of probability:
1. Bounce from the bullish flag, then retesting support and finally a free AUDUSD;
2. Breaking of a flag long;
3. Breaking of a flag short and then continuing bullish trend from support lvl;
4. Breaking all the levels, because idc thats why, probably it would be because of a triple highs.
Would consider close before the flag resistance and then reopen depending on price action.
Good luck.
And we have 2 WW, last one completed just now.
There is a high chance of breaking the flag and going up at least to the last resistance.
So
1. 2 wolfe waves marked with green arrows;
2. Bullish flag with a strong support level that was rejected two times;
3. Complete EW before flag makes it a correction before the next long move
Few different outcomes in order of probability:
1. Bounce from the bullish flag, then retesting support and finally a free AUDUSD;
2. Breaking of a flag long;
3. Breaking of a flag short and then continuing bullish trend from support lvl;
4. Breaking all the levels, because idc thats why, probably it would be because of a triple highs.
Would consider close before the flag resistance and then reopen depending on price action.
Good luck.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.