EverythingForex
Short

TRADE: SELL@0.71800 Completed Bat + Shark = End of Wave 4?

FX:AUDUSD   Australian Dollar/U.S. Dollar
My previous post on this pair, I was targeting an end to a possible wave 4 with both a bat pattern and a shark pattern both possibly signaling an end to that wave 4 and a resumption of the main trend in a wave 5 down:
QUICK ANALYSIS: AUDUSD: Updating Wave Count + Recent Trades

Prices have now reached and filled both the shark and the bat patterns and also fulfilled my wave count as per that post. There is also a 1.618 golden ratio harmonic extension of the wave iii             at the end of this wave 4. I also mentioned that there was a possible expanding triangle pattern taking place (the blue dashed line) and that this could be the D point of that triangle. Prices have now reached the TL of that expanding triangle as well.

MY TRADE PLAN
I am going SHORT on this pair expecting to see a decline back down possibly to retest the 69-70 cents levels. My stops will go above the X point of the bat pattern .

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Appreciate your timely updates on running positions unlike others.. Thank you
+1 Reply
EverythingForex PRO sam_thesupreme
I try but I can't always post as fast I want! Takes some time for me to do my charts since I don't just throw up something like others do. But you're welcome.
+2 Reply
Let's go 69-70 cent levels;)
I though to add 1 more position at 71800...but that would be 2 risky for my trading plan as I already have 2 at 700 level.
Good luck and well done as always mate!
+1 Reply
yep, let's hope so!
+1 Reply
I'm short with you bro!! (Thanks for the analysis!)
Reply
you're welcome. I just hope it's correct!
+1 Reply
HaroMaster EverythingForex
You, me and I suspect a few others too!!
Reply
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