FX:AUDUSD Australian Dollar/U.S. Dollar
I'm also interested in your opinion if there is a pattern setting up in the AUD on the daily chart. I don't know the rules about retracement percentages etc., within the Gartley's, Bats or other patterns, but it sure looks it might be a bearish something. Your thoughts? Thanks! (I also think that at it's recent high, it's still within the expanding wedge/channel).
We cannot have incorrect levels in fib tools on tradingview.
That is what I am saying.. the B leg is 10 pips HIGHER than not AT 0.618... is this allowed?
The other thing is that, should we trade the D leg by 0.786 of XA or 1.272 of AB ??
Sorry if I'm loitering... just want to learn the right way and all the aspects..
Farik, There is no wrong or right way to trade this pattern. It will all depend on your own rules and your backtesting. my rules state that the B leg MUST touch the 618 but not the 786. The D completion will be the 127 extension of the A to B leg. If the pattern is perfect, there ill be an equal AB=CD move and a 786 completion.