hi traders. here is my point of view for AUDUSD (TF1) price is actually constructing the (second) right shoulder of the pattern (in my cElliot count it's the bottom of the subwave 2 of wave 3). price is also laid on a strong Support Area, & next of the 61.80% fibonacci retracement. of the bull progression. according to the momentum, there's a useful trendline on the MACD & price is now approching it / BOCT could be broken on RSI stochastic momentum / Volume is declining since the beginning of the correction, so there's some convergence between price & volume.
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