AUDUSD - 30M - Gartley & Doubeltop
Im still looking to go short AUDUSD as long as we dont see a clean break too the upside on the higher timeframe. So far i have to plays in mind for whatever direction the market wants to go.
if we break below the lower dashed blue line i will looking to go short based on the confirmation of the double top and the break of the triangle (stops above double top)
if we go higher from here i will be looking to go short at the PRZ of the gartley patterns, with stops above X.
second target in both cases will be placed in anticipation of a bigger downward move on the 4H, so bigger picture target. target one should be placed relatively "normal" since AUDUSD is still very indecisive
if we break below the lower dashed blue line i will looking to go short based on the confirmation of the double top and the break of the triangle (stops above double top)
if we go higher from here i will be looking to go short at the PRZ of the gartley patterns, with stops above X.
second target in both cases will be placed in anticipation of a bigger downward move on the 4H, so bigger picture target. target one should be placed relatively "normal" since AUDUSD is still very indecisive
Note
We are gettin there. Currently we are still sitting at a gartley/bat that on the 5min that creates alil bit of upward heat but i expect a break below the lows pretty soon which will be my entry. i further decided to increase my failure risk a little bit, by placing my stop above the consolidationzone, so at about 7152, instead of placing it above the double top. that alows me to double the positionsize and hope for a bigger winner.
ofc i will get stopped out more.
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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.