AUDUSD Two AB=CD Completions Nicely Together
I was looking through the charts and found two AB=CD patterns that complete in the same PRZ. At least to me, this is a great opportunity to go short on AUDUSD.
The basics of the chart shows a large AB=CD (blue arrows) where we have a 0.618 AB retracement and a completion close to a 1.618 AB extension. The smaller AB=CD pattern (orange arrows) that is embedded in the larger pattern shows a 0.5 AB retracement and a completion at a 1.618 AB extension.
An aggressive way to trade this is by taking your targets based on the larger pattern with 0.382 being one target that matches structure (~ 35 pips), followed by the 0.618 retracement (~ 55 pips). Don't forget stop losses (which is relative to your trading plan).
Trade wisely, Trade responsibly.
The basics of the chart shows a large AB=CD (blue arrows) where we have a 0.618 AB retracement and a completion close to a 1.618 AB extension. The smaller AB=CD pattern (orange arrows) that is embedded in the larger pattern shows a 0.5 AB retracement and a completion at a 1.618 AB extension.
An aggressive way to trade this is by taking your targets based on the larger pattern with 0.382 being one target that matches structure (~ 35 pips), followed by the 0.618 retracement (~ 55 pips). Don't forget stop losses (which is relative to your trading plan).
Trade wisely, Trade responsibly.