AUDUSD: Will the pattern stop further price growth? Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Jan 13, 2023 10:26 AM

AUDUSD: Will the pattern stop further price growth?

The price is still developing a larger corrective pattern.
This is with the current data.

This was a pattern I was looking for for a long time.

However, in some aspects, it is a bit complex.

We should see the price develop below the upper resistance of the pattern.

Otherwise the price may increase further as the pattern will be invalidated.

Thanks and good luck!

Comments

Setupsfx_

⋅ Jan 13, 2023 9:44 PM

Great!

shaayaan

⋅ Jan 13, 2023 8:45 PM

perfect analysis 👍

TradeChartPatternsLikeThePros

⋅ Jan 13, 2023 8:03 PM

thats a nice overview, didn't realice looks like a megaphone trading its 5th wave, and what i understood from megaphones are bullish, thanks for sharing your view

BuyandFinghold

⋅ Jan 13, 2023 6:23 PM

its going long

JoeChampion

⋅ Jan 13, 2023 12:06 PM

Great pattern buddy!

Pps33_Day

⋅ Jan 13, 2023 11:05 AM

it looks like a megaphone =)) , Sell now , TP 0.68 , SL 0.71 ? =))) , I think it would work :D

KlejdiCuni

⋅ Jan 13, 2023 11:07 AM

@Pps33_Day, something similar...let's see:)