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tradetoprofit
Sep 10, 2019 3:26 AM

AUDUSD Elliot Wave-Still Moving Past 0.6850 ? Long

Australian Dollar/U.S. DollarFXCM

Description

AUDUSD is about to make the (final) 4-5 leg 0.6850 is a big place of resistance for 2 reasons:

It's a quarter level, and prices tend to make moves off of these levels. The 61.8 % Fibonacci retracement from the 2-3 leg on the 1H timeframe (prices 0.6837-0.6873) hits exactly 0.6850. So there is a high probability the Elliot Wave completes and ends up around 0.6894

My stop loss is currently set right below the half level
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