Nico.Muselle
Long

AUDUSD - Trading the GAP - 3-drives harmonic move.

FX:AUDUSD   Australian Dollar/U.S. Dollar
a year ago
Reasons for entry :

- Bullish Gartley completion
- previous structure/support
- potential 3-drives harmonic move
- fibonacci cluster around week open
- Higher High, Higher Low indicating an uptrend on this time frame
- excellent RR > 6:1

The week on AUDUSD             opened with a gap which is not visible on the TradingView charts. We already put in an AB=CD move which brought us to the top (B-point) of the Gartley pattern . We retraced back into previous resistance/support completing the bullish Gartley .

I'm looking for this structure to hold and a potential 3-drives move right into the week open, where we have a nice Fib cluster :

  • 0.786 retracement of 0.7320 high and this week's low

  • 1.272 this weeks low and most recent high
  • 1.414 previous low and most recent high
  • and 1.618 of inverse extension of current low and most recent high.

Since we are putting in new HH and HL, for me chances are good that we will try to at least reach the border of that gap. This would present us with a nice Reward:Risk ration higher than 6:1

Option 2 : if current lows do not hold and we break below structure we have a potential bull Cypher pattern setting up.

Good trading and may the pips be with you !
a year ago
Comment: 1/2 of the position take off at previous highs, stops rolled to break even
a year ago
Trade closed: target reached: This went much faster than expected for a nice 209 pips. Will be looking for a nice entry to go short now. Love it when it all comes together. :)
Nice, i love the combination of techniques used here
+3 Reply
Nico.Muselle MOD Akil_Stokes
a year ago
Thanks Akil ! I learned from the best ! :D
Reply
Nice analysis mate
+1 Reply
Nico.Muselle MOD jackmyattFX
a year ago
Thx buddy ... working out fine for now :)
+1 Reply
banffstocker
a year ago
Rebound looks corrective, with dominant trend still favoring the downside
SHORT from 61.8 fibonnacci @ 0.7172
+1 Reply
Nico.Muselle MOD banffstocker
a year ago
I'll hold on to my long till target is reached, still seems quite bullish to me.
Reply
DanV MOD
a year ago
That is a nice catch. Excellent.
+1 Reply
Nico.Muselle MOD DanV
a year ago
Thanks !
Reply
BogdanBratu
a year ago
Do you think this might get down to the 0.7080 level again? Unfortunately I am locked in a short transaction.
+1 Reply
Nico.Muselle MOD BogdanBratu
a year ago
Not sure about that, but I cannot understand being "locked in". If you are in a trade that you should not be in, you should exit it and take the loss, instead of risking it to run further against you.
+1 Reply
Now that is one golden trade :)
+1 Reply
Nico.Muselle MOD morshedul.sazid
a year ago
Thanks buddy, yes it was, and an incredible smooth one as well ... shot straight up to the target. Where do I sign to find all trades like that ? :D
+1 Reply
morshedul.sazid Nico.Muselle
a year ago
Just follow Nico.Muselle on tradingview.com hehe :)
+1 Reply
Nico.Muselle MOD morshedul.sazid
a year ago
How do I do that ? :P
Reply
morshedul.sazid Nico.Muselle
a year ago
Oops! The option is only for us . Only we get to see the follow button :P.
Reply
jhakas
a year ago
snapshot
+1 Reply
Nico.Muselle MOD jhakas
a year ago
I agree that we should see some retracement here after this nice push up, so I am looking for a short entry now.
Reply
Mustafoinc
a year ago
Awesome trade, Thank you!
AUDUSD 1h Patterns
+1 Reply
Nico.Muselle MOD Mustafoinc
a year ago
Yep, that Gartley was indeed what triggered my entry :)
Hope you caught some nice pips too !
Reply
Mustafoinc Nico.Muselle
a year ago
Yes I did, I wrote it on the chart. +181 pips. 1st half I got out at my 33 pips according to my chart above and then followed your trade for the rest!!!!
+1 Reply
Nico.Muselle MOD Mustafoinc
a year ago
Excellent ! Did you move your stops to break even after you took the first profit ?
Reply
Mustafoinc Nico.Muselle
a year ago
Yes sir
+1 Reply
Nico.Muselle MOD Mustafoinc
a year ago
Good stuff, so it was a risk free trade. Feels good, doesn't it ? :)
Reply
Mustafoinc Nico.Muselle
a year ago
Heck yea it does. :))
Reply
mustard
a year ago
Great analysis
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out