AUD/USD swing trade setup

UNRPPの投稿

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This AUD/USD pair could completed its correction already

Wave (1) = diagonal
Wave (2) = complex correction W-X-Y (expanded triangle)
Wave 1-2 (expanded flat completed last night 26/6/2024) of 3

If this wave count is valid, possible short term target (days-weeks) are
1) 0.68
2) 0.694

Price should not go lower than 0.664
If it goes lower than 0.658 -> this idea will be invalidated

Looking at DXY, this bullish idea may be possible

ノート

I think the small wave 2 is completed. On the way to first target around 0.680

ノート

Alright, so last night got stopped out.
Maybe this is most likely pattern/wave count here
with wave X is a complex combination.
Now this pair is likely forming its wave Y as a corrective pattern.

Could be an expanded flat. wave 2 waves remaining
or just a-b-c that will conclude around the 0.618 fib

If you want to trade breakout, wait until price break above 0.69

ノート

If price go above 0.668, i think that is our confirmation
However, we have Core PCE today, be prepared for increased volatility.

Invalidation point remains the same at <0.658
Bullish confirmation at 0.69

ノート