Hey traders, looking at a couple of speculative triangles for this pair. Although there are a lot of uncertainties at the moment on price action, we do know that this is corrective structure and thus a harmonic pattern like the cypher is an opportunity to take a long position toward further correction. More updates to come as the tide rolls and reveal wave structure. Happy trading!
Trade closed: stop reached
⋅
I'm big time bearish on this pair with huge downside targets. The drop occurred faster than anticipated! I won't be taking any long positions, just waiting for another great short opportunity. Cheers
On higher timeframes it just hit the .618. Perfect hit actually. Could reverse here
glennmercer
⋅
Good eye ddp! I already have enough short USD exposure being short USDCAD and long EURUSD. I will wait for that rally to complete before placing any AUDUSD positions. Thanks for the heads up, cheers