We are still looking for a short opportunity on the AUDUSD as it seems to be trading within a WXY pattern. Our short scenario is valid as long as the red line is not reached.
P.S: This content is for educational purposes and discussion.
Good luck.
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The C wave seems to be unfolding to form an ending diagonal, so we changed our entry to be the low of wave 4.
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We can see a contracting triangle as a 4th wave, we can say that we have C as 5 five waves impulse. We are already at an important zone for selling, our entry is optimized as shown below: