AUDUSD, 4hr tf, ABC correction wave-C after rising wedge
Hello my friends,
For today i am trading AUDUSD.
This pair come to my screener an i am going to analyze it more deeply with Elliot Wave.
In my opinion this pair could rotate lower again as there is a rising wede/triangle pattern which support has been broken. We could assume this as an ABC correction after the fierce rally of AUDUSD since March until today.
Price come to retest this broken rising wedge trend line, which is also where 61,8 fibs retracement.
Sell AUDUSD 0.7300-0.7290
Stop loss 0.7350
Take profit 1 @0.7250
Take profit 2 @0.7200
RR ratio 1 : 2
Use only 1-2% risk
Good luck
Please drop a like to this post if you found it useful.
Stay tuned to my next post by following me as well.
For today i am trading AUDUSD.
This pair come to my screener an i am going to analyze it more deeply with Elliot Wave.
In my opinion this pair could rotate lower again as there is a rising wede/triangle pattern which support has been broken. We could assume this as an ABC correction after the fierce rally of AUDUSD since March until today.
Price come to retest this broken rising wedge trend line, which is also where 61,8 fibs retracement.
Sell AUDUSD 0.7300-0.7290
Stop loss 0.7350
Take profit 1 @0.7250
Take profit 2 @0.7200
RR ratio 1 : 2
Use only 1-2% risk
Good luck
Please drop a like to this post if you found it useful.
Stay tuned to my next post by following me as well.
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.