Following on from yesterdays chart, here is an hourly view of the AUD/USD pair. This looks like it could be a very rewarding short in the very near future. Below is a 15 minute zoom of the A-B-C correction above. I have labeled it as an A-B-C in the above chart for simplicities sake, however in the 15 minute chart I go into more detail. There are two possible counts below labeling wave C above. One is in black and one is in green. If the black count is correct, it is possible that it is complete. This will be confirmed if price breaches 0.91 without making a newer high. Look to short at 0.922 with a stop above 0.9325, or on a break of 0.91 if 0.92 is not hit.
I am exiting both my GBP/USD and AUD/USD long positions now. The AUD/USD because I have a count that says the pair may have topped already, and the GBP/USD, which has performed very poorly, because it is coming up to resistance and looks weak.
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