Looks like my cold is starting to get better and the AUDUSD seems to be getting its act together too. Just to recall from last week, the monthly displaced cycle (D1 in this chart) has been pulling price down into its 'topping' trough, having already bypassed D2 (the 2 month displaced cycle trough). If you look left, you will see that we cut blue D4 and are making our way to retest it or cut it to the upside. We have then cut D3 to the upside and now seemingly successfully backtested D1 & D2 (which sequentially follow D3 as does D4). So basically, if this move down has been the 'c' wave in an 'abc' retracement and D1 & D2 have been ticked off in the upside cut of D3, then D4 here we come and more of course, it that is subsequently taken.
I could sit here and say I have been patiently waiting, but truth is I have been too sick to bother. Having said that, I don't want to have to be too more patient now I am feeling a bit more lucid!
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