AUDUSD on the 4H time frame, has formed a bullish pennant after an impulsive bearish move - an inverted pennant if you like.
The whole structure is very bullish in my opinion, as we have the bullish pennant + MACD convergence.
The 1-5 wave within the pennant is almost complete too, I'm going to try and ride the 5th wave up + the breakout. looking for 100 pips but this can potentially give us over 150pips.
@PipsOfPersia
t.me/pipsofpersia
The whole structure is very bullish in my opinion, as we have the bullish pennant + MACD convergence.
The 1-5 wave within the pennant is almost complete too, I'm going to try and ride the 5th wave up + the breakout. looking for 100 pips but this can potentially give us over 150pips.
@PipsOfPersia
t.me/pipsofpersia