glennmercer
Short

AUDUSD EW Update: 5-0 Pattern to Enter Bat

FX:AUDUSD   Australian Dollar/U.S. Dollar
2 months ago
Previously, I posted this:

AUDUSD Nearing High Probability Reversal Zone

I don't normally set limit orders without first seeing a sign of reversal in the form of an impulse that aligns with the wave count. This is yet another example of why this is important. This 15m 5-0 trade is a great opportunity to trade the bat pattern after first seeing a bearish impulse and setting the SL to maximize your R/R. This is the more conservative and my preferred approach. Limits can be set on 5-0 patterns assuming no major news events are scheduled. Happy Trading
2 months ago
Order cancelled: Target reached before entry, no problem! Process over results and the wave count is accurate.
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