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Monday, November 1, 2010

AUDUSD Chart by Jamie Saettele (1 Nov 2010)

In my previous post, I mentioned that I wasn’t very sure of my count.  Here’s another count by Jamie Saettele of DailyFX.com.  I think his makes a better count in fact, and (I think) he has counted wave 1 as a diagonal, which explains the wave 4 and wave 1 overlap. It’s worth taking a look and forming your own idea of wave counts for the currency pair.

We are both looking at a decline in AUDUSD, just that expectation of price movements are slightly different.

Thought it was good to know.  Smile Good luck with your trading!