PLEASE CHECK FROM BEGINNING SETUP
Analysis going so well, us proper risk management
At that time we saw 2 impulses, and 2 corrections. The 2nd correction was not over yet, so I expected a further correction 📉 before the next impulse 📈 ⠀ 🤏 I have to say that the correction turned out to be a bit more complicated than expected, nevertheless the overall wave structure has not changed at all 👌
I like how the market looks on the H4 chart. ⠀ 🔹 Strong upward wave that breaks through the downtrend 🔹 Correction beyond the old downtrend ⠀ 👍 Setup looks nice.
The market has broken the downward uptrend, but to me 😉that is not enough to risk my money. ⠀ I expect the market to make a small correction below the trend line as confirmation of a future decline. ⠀
I'm sharing with you my view on the current structure of AUD/USD. It is likely that after the obvious 1st, 2nd and 3rd wave, the market is now in the 4th wave. 🤔 I assume that it could be an ABCDE triangle, because it is very typical for the 4th waves
EUR/USD overview. I found a perfect example of the difference between diagonal and triangle on the same chart. ⠀ 👉 Diagonal is a motive wave, after it's over, the trend reverses. 👉 Triangle is a corrective wave; after it's over, the trend continues. ⠀ 📈The market resumed a bullish trend after the completion of the ABC correction. ⠀