glennmercer
Short

AUDUSD Nearing High Probability Reversal Zone

FX:AUDUSD   Australian Dollar/U.S. Dollar
2 months ago
AUDUSD             is nearing the completion of a bearish bat on the 1HR timeframe. This level is confluent with a .382 fib and AB=CD pattern . Additionally, a lower TF wave count indicates a possible wave four in process, pending the last wave in the impulse. I will be risking less capital on this trade as it will be an overnight limit order and I will not be able to provide live updates.
2 months ago
Order cancelled: I cancelled this limit entry because I did not a wave count that supplemented entry. HOWEVER, I see a reason to short now after looking at the 15m TF:

AUDUSD EW Update: 5-0 Pattern to Enter Bat


Remember to trade only according to your plan and the most important factor is proper risk management! Good Luck
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DivineMoloto
2 months ago
We also have MacD divergence on the hourly, I believe the high probability reversal zone is around 0.75660, we see lows and highs at that zone....as well as Diagonal resistance right there.
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