AUDUSD - Downtrend has resumed - Going for new low - Great R/R!

We should be in the fourth wave of this 5 wave decline.

On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone.
A drop below wave a high of 5935, would increase the odds in our favor.

Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the count might be wrong.

Yorum:

Note that even if the 15min count gets invalidated, the bigger picture remains intact as long as price stays below 6435 !