AUDUSD Long Opportunity

Waiting for a clean flag breakout to retest the prior high.
Sub waves indicate this could be a 5 -3 - 5 with the B wave being a running flat. Expecting 5 waves up to complete the zigzag hitting the 100% extension then pushing price down to break the $0.70 low.

Notes: If we do get this bull run, watch the 161.8% extension as this could also be the wave 3 extension wave.

If so, wave 2 would ultimately be the FLAT.
As the rule of alteration suggests, if the wave 2 is a flat, we expect wave 4 to be a zigzag.
This would be an extreme case which is highly unlikely.


Preferred scenario. Break flag for upside, hit 100% extension, then look for sells all the way through to $0.70.
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