Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Aussie is trading slightly lower for the last few weeks, away from the upper side of a triangle range. However, a decline is not so strong yet from 0.7709 but it's counted in five waves as a leading diagonal. So despite slow market moves, we see probability of a completed triangle which means that strong bears may show up after a three wave bounce up in wave 2 that can find resistance at 0.7627 later this week.
AUD/USD, 4H
When diagonal triangles occur in the fifth or C wave position, they take the 3-3-3-3-3 shape. However, it has recently come to light that a variation on this pattern occasionally appears in the first wave position of impulses and in the A wave position of zigzags. The characteristic overlapping of waves one and four and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5-3-5 pattern.
Basic Leading Diagonal Pattern:
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