AUD/USD Completed AB=CD Pattern, Now .618 Retracement
This idea is to short AUD/USD based on the AB=CD pattern and retracement to .618 level.
The first target is the .618 retracement of the AB=CD pattern (I will move stops to breakeven after the .382 target)
The second target is the -0.27 of the AB=CD move. Alternatively you can trail stops and try and get in on a larger down move...
The dollar has been extremely bullish today but this seems to be an opportunity to get in on the possible next wave down for a small risk. Please do not consider this a trading signal -- I am just sharing ideas. Good luck!
The first target is the .618 retracement of the AB=CD pattern (I will move stops to breakeven after the .382 target)
The second target is the -0.27 of the AB=CD move. Alternatively you can trail stops and try and get in on a larger down move...
The dollar has been extremely bullish today but this seems to be an opportunity to get in on the possible next wave down for a small risk. Please do not consider this a trading signal -- I am just sharing ideas. Good luck!
Comment:
Trade active:
Stopped out at breakeven but I'm back baby!
Trade closed: stop reached:
And stopped out at breakeven again lol.
I realized my targets were from my original entry price and not the actual completed D point. I need to watch for this in the future, as the actual TP1 was hit at 0.757!
I realized my targets were from my original entry price and not the actual completed D point. I need to watch for this in the future, as the actual TP1 was hit at 0.757!