Potential ABCD Pattern Forming on AUDUSD

I'm going to watch for 4H RSI divergence around the D point (which is in the same area as my two trend resistances) to enter short.

Note

As my good trading friend BLUE43 pointed out, there is another, larger ABCD pattern potentially forming. I'll post the chart in the comments section below. Be sure to confirm the resistance at D point and use a smart SL which fit's your plant and risk tolerance.

Note

Plan... Not plant. Don't trade with plants unless you're a horticulturalist.

Note

Profit secured on position shown in comments with 90 pip trailing stop

Note

Subscribe to my system, PipSqueak on myfxbook.com to automatically copy my trades for my trading strategy focused on long term sustainable growth myfxbook.com/members/autotrade/pipsqueak/1583597

QuileHills

Also on:

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.

QuileHills

Also on: