Fxprotrader

AUDUSD@ Pending AB=CD & Butterfly Patterns At Key Support Zone

FX:AUDUSD   Australian Dollar / U.S. Dollar
Still in an uptrend Audusd             gives us a nice opportunity to add a position to our long or for those who didn't enter earlier, to jump in. Price is obviously in a corrective structure having already completed wave a and b of an abc corrective pattern. If it continues going south besides of compliting abc pattern we will also have two more harmonic patterns completions with their D points at key support zone . (Looking at butterfly's fib level we can see that AB leg almost closed at 0.786 of XA leg. It's still valid to me).

I will personally enter this market after the butterfly is completed. Stoploss and profit targets as shown at the chart (two positions).
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