AUDUSD-nice corrective channel at 0.61 fib

FX:AUDUSD   Australian Dollar/U.S. Dollar
2521 17 34
My long term bias is still long on this pair. My last attempt to long failed, i see now because the structure was not complete yet (we are all learning here).
The structure seems to be finished now, we have a nice corrective channel at the 0.61 fib retracement.
From the EW perspective i think this is a series of 1-2s.
Be carefull, today we have strong FOMC news, it depends on you to trade this setup before or after the news.
Best regards.

Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
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Comment: Still alive!! although i will need to wait some days to see if this works. I will just stay aside and follow my plan. Regards.
Man we're in sync today:

+1 Reply
FullTimeTrader IvanLabrie
Great! i should have listened to you when you observed the structure was not complete. Well, we learn from mistakes also.
IvanLabrie PRO FullTimeTrader
Yeah, it needed more time.
No problemo though.
Now it might rip!
tntsunrise TOP IvanLabrie
HAHA really like your ideas for both of you! Coudn't agree more
+3 Reply
Koryphaeen PRO IvanLabrie
Nice, both of you! I took short on USDCHF and I entered long on this one, so I/we need bad FOMC news for the USD... Anyway, I will hold on to these trades managing my SL manually and trailing my stops in case it will move in our favor. Good luck to both of you!
FullTimeTrader Koryphaeen
Yes, trading is newer easy and there is always a risk involved. Most important is keep risk under control. Good luck!!
+1 Reply
Koryphaeen PRO FullTimeTrader
XAUUSD technical is also confirming a USD weakness, I must say that I traded these kind of pennants and flags very successfully in the last period on gold. But my exposure would be a bit crazy with that USDCHF that I have open since yesterday and the AUDUSD which I took in the morning. But just a simple idea:
Koryphaeen PRO Koryphaeen
measured target would complete exactly at a major structure level (major means in this case string structure on the H4 chart)
FullTimeTrader Koryphaeen
Nice setup!! i would also long XAUUSD but the exposure is too much, all markets are correlated. Regards.
+1 Reply
On this one too, go ab=cd and also potential pattern. Good Luck
IvanLabrie PRO KevinSinghDhaliwal
Got a chart?
not the best pattern on 4 hr but so far this is the one i have and ab=cd is on 4 hr
+1 Reply
thanks, I am in too
Nice analysis Fulltimetrader . i been following your charts
agree! I have taken profit with my short position
+1 Reply
Hie fulltimetrader, would like to know your expert views on the entry
Bullish bias audusd

Hello, i agree with your setup, well done. As traders we must decide to trade this before or after the news because sometimes the reaction to the news could be unexpected. Regards.
+1 Reply
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