Forex Trading Setup most probably a 250 pips opportunity
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I am planning to go short on AUDUSD becuase of several reasons.
First of all the ABCD pattern is not completed the second thing is that If i measure the whole move which you can see on the chart it retrace back up to .382 level.
The recent down move when measured gives me . 618 retracement right above the .382 level of the prevoius leg of the move I draw a horizontal line and i noticed that price at this level acted as a good resistance level in the past twice.
So I prepared for the trade to go short once the criteria are met.
I have made a video make sure to watch it you will better understand this whole setup
here is the link to that video https://www.youtube.com/watch?v=r7ziMXlB...
Regards
First of all the ABCD pattern is not completed the second thing is that If i measure the whole move which you can see on the chart it retrace back up to .382 level.
The recent down move when measured gives me . 618 retracement right above the .382 level of the prevoius leg of the move I draw a horizontal line and i noticed that price at this level acted as a good resistance level in the past twice.
So I prepared for the trade to go short once the criteria are met.
I have made a video make sure to watch it you will better understand this whole setup
here is the link to that video https://www.youtube.com/watch?v=r7ziMXlB...
Regards
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