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glennmercer

AUDJPY: Elliott Wave + Harmonics to Maximize R/R

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
glennmercer Updated   
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns Elliott Wave wavecount EW glennmercer gmercerfx
4
0
trendanalysis harmonicpatterns chartpattern elliottwaves wavecount ew glennmercer gmercerfx
Hey traders, this gartley pattern completing near the invalidation level of a bearish impulse. This is confluent with many MA clusters on many timeframes. The R/R is high and the win likelihood is low compared to a wider stop, so trade size needs to be diminished in order to take a trade like this. However, there are many factors confluent with bearishness at this level and worth a shot. Cheers
Trade active:
Trade closed: stop reached:
Invalidation level breached!
Comment:
Update: Took a long trade on the bullish impulse. +10 pips total combined in both positions. Eyes are now on the CAD as we approach BOC statement

AUDJPY: Invalidation Level Breached; Long Bias
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