Hello. Its Sunday close to market opening. So here are few analysis for open and Monday:
AUD/USD is now in wave C. Potential end zones of this wave are marked on blue. If i get buy signal (faster line cross slower line from bottom) on faster DT on 1H chart im going to 5min Time Frame and look for buy signal. Than open position.
Im making plan before marking potential revers zones and than if i get signal in 1 of this zone im opening position.
Last days fall down I treat like wave A of correction. It really should be end of it - but i cannot be sure about it. Thats why its just better to wait for wave B - and open position on end of it. But its too early for potential levels of end of wave B - I still dont know where will be begin of it.
GBP/USD is on wave C of correction ABC. Remember that ABC correction can turn to 1-5move - and we never know when it can happen - so now its ABC but it can be 1-5too. What can show that it can be 1-5 not ABC is wave C (3 in 1-5). If its much longer than 1 (1,618 of it with Eliot theory) we can expect its new 1-5 move not just ABC.
Lets return to GBP/USD. Wave C can end near 50% of Fibo - so if i get signal even after open of market I can go long, but it can fall down a little bit to bottom of wave 4, between of 50% and 61,8.
So there is another level of potential trade.
I expect USD/CAD was in 5 wave move. But after point 4 (well marked with S/R and Fibo levels) it didnt fall down like it should. So it could be v short wave 5 and now its going up - but it can still stop close to point 4 and fall down making wave 5. If i get signal near that point i will go short.