AUDUSD 4 Hour Wave Count and Analysis (No Setup)
Trade Journal Entry
AUDUSD for now appears to be held by daily and weekly resistance trend line. On the 4 hour there appears to be a five wave count, a strong trend with extensions in wave 1, 3 and 5.
There is a solid A, B, C wave.
Looking forward to seeing if the daily trend-line resistance holds and we see a continuance down, or a more complex corrective structure. Third option a break and further upward momentum although fundamentally I am unsure what would catalyze that bullish strength.
This is for my trade journal only feel free to comment
Happy and Safe Trading
AUDUSD for now appears to be held by daily and weekly resistance trend line. On the 4 hour there appears to be a five wave count, a strong trend with extensions in wave 1, 3 and 5.
There is a solid A, B, C wave.
Looking forward to seeing if the daily trend-line resistance holds and we see a continuance down, or a more complex corrective structure. Third option a break and further upward momentum although fundamentally I am unsure what would catalyze that bullish strength.
This is for my trade journal only feel free to comment
Happy and Safe Trading
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