Friday, March 11, 2011

Looking to add to AUDUSD longs

Don't know if it will let me but i am looking to add to long position if price gets back down to between those dotted blue lines based on the assumption that we are currently in a localised uptrend on the 5 minute, currently in wave 4, from the most recent low... so, wave 1 just above little green arrow, wave 2, next low after, wave 3 topped out at 1.618 extension of wave 1, and wave 4 COULD get down as low as 61.8% of retrace of waves 1 to 3...

price is a pit powerful at the mo tho and since captruing this chart we have bounced from the displayed levels and are retesting wave 3...
darnit

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