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Wednesday, February 22, 2012

AUDUSD Daily chart


The AUDUSD might be bottoming and getting ready for another test of the 1.0850 levels. I suspect that we might be forming a flat on the daily chart, so the end level of B should be somewhere around 1.10. However, there is a possibility of a formation of expanded flat that will lead us all the way to  around 1.14 and then we will have wave C going all the way down to 0.80 levels. In either case we need one more leg up and from there we might have a clearer picture of how things will develop further down the road:)
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Good Luck:)

2 comments:

  1. hi,

    stumbled into your site from stocktwits...fantastic to see your counts, learning much....i love trading aussie & kiwi pairs, a few harmonic patterns playing out, really would like to see a bullish gartley play out on usdcad to turn things around

    cheers,
    T.

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    Replies
    1. Thanks for the great comment:)
      Yeah I have been flowing USDCAD a lot lately, but I suppose it will take at least 2-3 weeks before I go long on this pair.

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