EverythingForex

TRADE: AUDUSD: SELL@.73260 Wave Count Shows Large Move Coming

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
Recently there was the Gartley that had been filled and the cypher #2 from an earlier post (see Related Ideas: "AUDUSD: Watching For The Sell Signal") which led to a nice down move which was followed by a nice up move which I was able to bag +154 pips from. Now these price moves have combined to form a POTENTIAL butterfly that would see prices retrace down and complete this wave 4. After which, there should follow a LARGE wave 5 move up. By the way, if you are one of the ones that took that sell off that completed Gartley and are still holding onto that sell trade, well this move down that I am expecting should hit the TP2 of that Gartley which would be a VERY nice profit for you all! Unfortunately, I didn't get that trade but now I will.

Also, I just want to point out that this entire down-up move off that Gartley IS in fact a nice bearish PA just on a larger scale. So PA now supports a down move coming as well.

Here is the 4Hr Chart overview of the expected move:

MY TRADE PLAN
Holding this sell down to the completion of the butterfly pattern. Stops will go above the wave (B) ending.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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