Friday, December 7, 2012

Aud/Usd : Triangle

The count presented in the previous aud/usd post, a complex double three from the top, is still valid but a triangle count becomes more probable because wave y would take much more time than wave w. A triangle always offers a choice since it can transform easily into another corrective wave, either another triangle or a complex double three, sometimes even into an ending diagonal. My choice is the bearish triangle because of the bigger timeframe count. But we have to keep an open mind for this pair and play the shorter timeframe waves since the offer more tradable opportunities.

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