AUDUSD is looking to complete an M formation currently on it's final leg.
If we M formation plays out, we expect a drop towards the orange line.
A break of the yellow trendline would act as confirmation for a continuation lower, however now is a nice entry with SL just above the high that was formed.
This may also be a 3-wave structure forming.
If we M formation plays out, we expect a drop towards the orange line.
A break of the yellow trendline would act as confirmation for a continuation lower, however now is a nice entry with SL just above the high that was formed.
This may also be a 3-wave structure forming.
