AUDUSD looks very impulsively nested to the downside
The pink boxes are all impulses so I leave it up to you how you nest this structure but it looks very nested to the down side.
Also, the trendline since 2002 has been decisively broken with this week's price action.
The most obvious nest is the one I labeled and it targets between 6300/6400.
The nest after that targets long term bottom at 6000.
Chances are this structure won't even terminate there.
Also, the trendline since 2002 has been decisively broken with this week's price action.
The most obvious nest is the one I labeled and it targets between 6300/6400.
The nest after that targets long term bottom at 6000.
Chances are this structure won't even terminate there.