AUDNZD -- SHORT [ SHORT TERM ] Will It Complete D Leg?

FX:AUDNZD   Australian Dollar / New Zealand Dollar
124 4 13
Feedback Appreciated, Many Thanks.
Comment: sell order still active on this pair
Trade closed: target reached
couple things wrong on this 1 your x to a is an invalid anchor leg if anything the anchor leg should start at march 8 low the second thing is a pattern isnt validated until completed so therefore you have jumped into a guessing trade instead of a hypothesis trade also never trade off C legs because more than half the time you will get stopped out check this out for reference
MarlyForex AngellD21
hmm, i see. what about if I'm using a smaller time frame would the anchor not be better placed at a more recent low?
+1 Reply
AngellD21 MarlyForex
It depends if its a deep enough retracement in this case it isn't
MarlyForex AngellD21
Thanks m8
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