TRADE: AUDUSD: BUY@.70011 Waiting wave (B) Finish. AB=CD Done

FX:AUDUSD   Australian Dollar / U.S. Dollar
1073 7 23
Though I had closed my trade in this pair earlier, I had said that I would wait longer for this wave (B) to finish. At least until the AB=CD was completed. Well, that has now completed. And dropped a little more. Which is what I wanted to see.

Though I have yet to see bullish price action, I am expecting wave (B) to end here or near here.

I am expecting a pretty large move up in a wave (C). This end of wave (B) will be the C point of the POTENTIAL bearish bat pattern as well. Being that is what I am expecting, then I would also expect that prices should not close below the .886 level. Which would be the lowest retrace of the AB leg of the bat to still be a bat. But since prices can still extend down past the .886, I won't place my stop there.

Again, buying@0.69900.. Stops will go below the lows. Shooting for at least the completion of the cypher #2 if not the bat. I expect this trade to take more than a few days to complete. My stops on this trade is pretty large (+90 pips) but the R;R is more than 3:1 so well worth the risk. If +90 pips is too much risk, then should wait for prices to see if they drop a little more into the g-zone. Between the .786 and the .886 should be a good entry if it gets there.
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You are a guru... Very good... It was fast and I began to think I would be stopped... My gz and GA were upside and was fine
Thanks but a guru, I am not. I'm only reading what the chart says.
Don_Corleone EverythingForex
And that's the most difficult thing to do....You can read really well everythingforex!)Keep it up mate)
EverythingForex Don_Corleone
Thanks, bro!
+1 Reply
Where can i start learning harmonic price patterns, whats your trusted and best recommendation
Perfect, as usual...
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