AUDUSD 10.09.2013

Hi all,

I'd like to share with you my view on AUDUSD

IMO, this currency pair is approaching some serious resistance on H4 chart. The channel top comes in handy with equal projection @ 0.9265-0.9275 area.

http://d.pr/i/oXTA

Since wave B is a deep correction of wave A (H4 chart), I categorize the whole ABC correction as a FLAT 3-3-5. Now we are in the end of Wave C (5 wave). More over, taking a closer look @ lower timeframe chart, I could spot interesting wave relationship in C wave.


On H1 chart, bearish divergence signals Bull team is losing breath and possible wave C is coming to an end. The channel in the chart is EW channel
http://d.pr/i/bNjc

M30 chart is what I find the most interesting chart. IMO, this currency pair is developing an Ending Diagonal, with Wave i overlap Wave iv. To be an ED, wave i > wave iii > wave v. Therefore, if market break above 0.92909, this count is invalidated. http://d.pr/i/nzI1

I'd wait for a bearish signal around 0.9265-0.9290 area to go short this pair.

Please give your comment on this. Thank you

Supaman_fx
Duc