AUDUSD - EXPANDING OR RUNNING FLAT CORRECTION??

We can see that the pair is still in consolidation after the most recent impulse. Now I'm pretty confident in that we're looking into some sort of Flat correction. The question is which of all is it? Legs A and B have already been completed. We're now looking at leg C. For now what we can expect is a minor retracement (Also due to the fact that we have a completed ABCD PATTERN + BULLISH RSI DIVERGENCE) up to the level of resistance indicated on the chart. If it is a Running Flat correction then the pair could potentially breakthrough the downtrend line and carry on upwards from here. If it proves to be an Expanding Flat after all then we can expect it to go all the way down to the bottom of the green line. I apologize in advance if it's all too cluttered but I tried to render my trail of thought as clearly as possible.

Trade safe and implement your own due diligence before executing a trade.

تعليق:

** correction - should say bullish stochastic divergence NOT RSI

تعليق:

probably looking at an expanded flat after all
possible minor retracement expected before further downside

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correction over....ready for upside?