AUDUSD short the corrective wave
Updated
>Wave 3 met resistance at 1.618 the length of wave 1, so i'm expecting a pullback
>Daily overbought on RSI
>There is a significant amount of open book orders just above 0.76 so that shall be my first target.
>Around 0.756 is my second target given it being a 0.618 retracement off the 3rd wave and being above the supportive trend line.
>Stops will be placed above the long-term significant resistance trend line (so above 0.7735)
>I will roll my stops to break-even if price action goes below 0.764
>today's high of 0.76808 could be the C point in a weekly bullish gartley pattern starting 19-12-2016
Disclaimer --> this is not a completed gartley so I don't trust it and neither should you
GARTLEY IS KING! LONG LIVE THE KING!
>Daily overbought on RSI
>There is a significant amount of open book orders just above 0.76 so that shall be my first target.
>Around 0.756 is my second target given it being a 0.618 retracement off the 3rd wave and being above the supportive trend line.
>Stops will be placed above the long-term significant resistance trend line (so above 0.7735)
>I will roll my stops to break-even if price action goes below 0.764
>today's high of 0.76808 could be the C point in a weekly bullish gartley pattern starting 19-12-2016
Disclaimer --> this is not a completed gartley so I don't trust it and neither should you
GARTLEY IS KING! LONG LIVE THE KING!
Note
shorted @0.767Note
closed half the position as wave 3 ended up being greater than expected @0.7675
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