A lucrative short opportunity for AUD/USD for next
week. A bearish Alternative Gartley pattern has
emerged on the 1 hour timeframe. Price has closed
below the 10 SMA (blue line) but still finds itself
above the 200 SMA.
If price finds enough support at the 200 SMA a bullish trend
continuation would definitely be in play. As always with
AUD/USD keep an eye on gold price as these two correlate
positively.
Trade 1 (RvR ratio 3.44)
Entry: Close below 0.7548 or at market)
S/L: 0.7570
T/P 1: 0.7530
T/P 2: 0.7508
T/P 3: 0.7490
T/P 4: 0.7471
Trade 2 (RvR ratio 2:1)
Entry: Close below 0.7471 as well as a rejection at that
level
S/L: 0.7501
T/P 5: 0.7445
T/P 6: 0.7412
As always, adjust your stop/loss to your risk management
profile.
Happy trading
week. A bearish Alternative Gartley pattern has
emerged on the 1 hour timeframe. Price has closed
below the 10 SMA (blue line) but still finds itself
above the 200 SMA.
If price finds enough support at the 200 SMA a bullish trend
continuation would definitely be in play. As always with
AUD/USD keep an eye on gold price as these two correlate
positively.
Trade 1 (RvR ratio 3.44)
Entry: Close below 0.7548 or at market)
S/L: 0.7570
T/P 1: 0.7530
T/P 2: 0.7508
T/P 3: 0.7490
T/P 4: 0.7471
Trade 2 (RvR ratio 2:1)
Entry: Close below 0.7471 as well as a rejection at that
level
S/L: 0.7501
T/P 5: 0.7445
T/P 6: 0.7412
As always, adjust your stop/loss to your risk management
profile.
Happy trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.