AUD.USD

[Steve]

have re entered another long at 91 40 , sl 90 70

There goes the Stop Loss...

What does this mean for the wave count?

[dumbass]

top in at 95.00

bearish count should take it down to 86 ish

stopped out for -70

[arco]

Hi DB/Steve

With the break of the "critical" point shown on
my last chart the plot started to look like a possible
'truncated' 5th.

Being unconvinced re the long I left a
short order on at .9105 after dinner which
is currently +109

arco

[Steve]

Good move Arco!

I have set aside some time this long weekend to investigate the BASICS of wave counting & butterflys etc, so can hopefully start contributing some similar analysis to the rest of you...

[dumbass]

looking like a high chance of top being in on aus at 9541

the weekly candlestick has printed a doji as well as some trendline resistance on daily

rsi divergence as well.

i m viewing this as confirmation of aus jpy short at 98

weakness in this cross is from aus weakness rather than yen strength

the only slight hurdle is negotiating a corrective move on the aus and probably eur and nzd early next week before major weakness returns with big yen move

this should provide good shorts for eur usd and aud usd etc and further stock melt down