TRADE: AUDUSD: SELL@0.72750 End of Wave (4); Start Wave (5)

Taking this trade on a completed cypher pattern and probable wave count. My wave count suggests that prices are near or at an end to the wave (4) correction and could start the final wave (5) of the main down trend. If that is the case, then this wave (5) could target at least the recent lows at 69 cents or even MUCH lower. But first, this next move should at least retest the 70 cents level. Even if my count is wrong and this recent uptrend was just a beginning of a larger correction, it would be a wave C with a wave A down being the next move. And this wave A down should still target the retest of at least the 70 cents level.
TRADE: AUDUSD: SELL@0.72750 End of Wave (4); Start Wave (5)


MY TRADE PLAN
Taking this trade and will be looking to get to at least the 70 cents level. But I will watch the PA at each TP level to decide if and how much profit I will take. Stops will go above the X point of the cypher (0.73569).

*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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