AUD/USD extended 5th Wave forecast

 AUD/USD Forecast 2023

We start the counting waves from Corona pandemic low in March,2020 at 0.55

Wave (I) is sharp 0.55 to 0.80. As per the Elliott  Rules any one of the three impulses is extended.It may possible that wave (I) is extended or it's not. 

Wave (II) is 70.7% correction of wave (I). So Wave II is deeper and Zig-Zag correction.  

If Wave (I) is extended then Wave (III) may normal. If we consider normal Wave (III) 100% of wave(I) then levels come $0.86. This is the edge for investor & Positional Traders.

If you know how far something is going to go, the game is in your hands.That is the beauty of Elliott wave. 

Let's We counting the waves from starting of (III) wave.

 Wave 1,2,3,4,5 is sub-waves of Higher degree wave(II).

Wave 2 = Fibonacci 70.7%(1) , Deep and Sharp Zig-Zag Correction.

Wave 3 = 161.8%(1) , Normal wave.

What is normal wave ? 
Fibonacci extension is 161.8 or less then 161.8% is consider as normal wave .

Any one of the three waves is most probably extended.Here wave 1 and 3 is normal so wave 5 may extended.

Wave 4 : Exactly Fibonacci 38.2%(3), Inverted flat correction appear as abc

If 4th wave is inverted flat and 3rd wave is normal then there is a high chance to be extended 5th wave. This formula is Money making in trading.

Next You can see on chart 5th of the 5th as green sub-waves is unfolding. 

(5th) wave  Forecast:

Fibonacci 100%(0-3) @ 0.73050

Fibonacci 123.6%(0-3) @ 0.74760

Fibonacci 138.2%(0-3) @ 0.75760

Fibonacci 161%(0-3) @ 0.77380

All above levels where 5th wave may complete & it may only 1st sub-wave of Higher Degree (III).

So till day we just focus on near target 0.73-0.77 where lower degree wave is going to complete.