Wednesday, August 18, 2010

AUD.USD Analysis



HI TRADERS , i m looking now at 2 possible EW counts for the current AUD.USD price action , both of them pointing lower unless the 9085 level is broke .
both scenarios pointing lower but with different timing , i was into the count that refers at 9050 as the end of wave 2 with wave 3 on the way , but i have little doubts in that now as i see Divergence on the OSC and some indicators as shown in the bottom of the chart that points to a possible short term bounce which might be wave to of an leading diagonal wave one in the wave 3 or c down as shown in the charts ,normally wave 3 of 3 comes with high momentum and i didn't feel it in this current wave which made me book some profits and leave a unit working and will add to it on a bounce if it materialize .
will alerts on entries into this trade on twitter

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