AUDUSD is creating the last wave to confirm the downtrend. When the 3 hrs candle closes below 0.66605 there is a potential for the market to reach 0.60800 with the stop loss just above the recent swing high.
This gives a risk reward ratio of 3.98 and is one of the finest pattern as per text book example.
Any suggestions are welcome!
DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I have no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. The use of the observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any ideas mentioned herein.
This gives a risk reward ratio of 3.98 and is one of the finest pattern as per text book example.
Any suggestions are welcome!
DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I have no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. The use of the observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any ideas mentioned herein.