audnzd -- correction, prepare for longs

10 ก.ค. 2016

The daily chart shows a corrective pattern from the June high. All gyrations are in 3s. The final leg of this three wave correction--(Y)--whether read as a triple-three, or A, B, and a double-three for C, has the same corrective conclusion. The fact that a trendline was broken is irrelevant because the waves have not finished yet. A few more gyrations down, and then I will be getting long for either C or 3 up. Note the enormous divergence between price and stochastics.