AUDUSD - Gartley Pattern Completion - I AM NOT TAKING THIS TRADE

FX:AUDUSD   Australian Dollar / U.S. Dollar
56 0 3
Here with a nice Gartley pattern completion on the Aussie

Reasons I am not taking this trade:

1. We have just broken out of quite a significant downward channel which started from below meaning that there is a high probability that this is a continuation pattern.
2. If you go over to the daily chart , in my opinion the AUDUSD             is currently bullish as we have started to see higher highs and higher lows.

Now, this trade could easily fall about 40 pips and reach my first target, because commonly after a breakout, price retraces back to the channel resistance or support and then continues in the same direction.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out