AUD USD Update 5th wave Push

Hey folks i hope you liked  the AUD/USD, I did say that i might even be drawn into believeing that it might not work , well  it did but I got in to early. I made a silly mistake and would just like to say i'm sorry it won't happen again.

I wanted to find out why i was to early what went wrong in my perception of the market  and why was i not able to catch the reversal.

I checked my blog for the 20th/7/2012 which i use for my notes and learning  and on the daily chart  i had marked the 4th wave  decline @ 1.02233... but on the 4hr chart I had marked it to high at 1.0299 ... to early . I had put the 4th wave in the wrong place ( it was at the 55DMA when it should have been lower at the 200 DBBands... so silly .. : i can  now See that in a 4th wave decline expect the minor count in an ABC fashion  minor 5th wave down is a corrective ABC dwn.. which is what occured on the 4hr time frame.. getting ready for the daily move of a higher degree.

Daily Correctly Marked

4hrs i marked in correctly resulting in an early entry.. Wrong

Below is what developed Daily pull back

4hrs develops into a 5th wav minor  abc decline into the  4th  of a higher degree.

Then Bing Go

Now although i missed this move because of my timing i stll sold the USDCAD :-) hehe