OANDA:AUDUSD   Australischer Dollar/U.S. Dollar
Hello traders, it appears AUD/USD is now forming a 5-0 pattern on the 1h chart. This is a follow up from a successful short which is about to hit take profit (chart is shown below).

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

All round excellent opportunity with over 1:3 risk to reward.

I hope you all have a great week :)
Trade ist aktiv: Price has now reached the PRZ and I'm happy to go long, the risk is pretty minuscule considering my stop loss will be a maximum of 45 pips.

This week I made 120+ pips shorting AUD/USD so this is a no-brainer for me.

Hopefully be able to take profit before market close tomorrow :)
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Thank you! Good entry now, double bottom with harmonic 50-o...
+1 Antworten
LewisGlasgow Victor.Y.F
@Victor.Y.F, you're more than welcome! I'm still holding ;)
Victor.Y.F LewisGlasgow
@lewglasgow ... We are Long on this trade until what level? What is the tp? Cheers
LewisGlasgow gaptraderhq
@gaptraderhq, we'll be holding until 0.77500 but I have not entered as of yet, thanks.
Hi lewglasgow...i just start following you and this is the first post I see from you...please clearify me: you are posting the end of a short position or you are going long on this one?Thanks and best work
+1 Antworten
@joao, hey, thanks for following :) essentially I'm linking two ideas together, I have just closed a short position in the market and now that this pattern has formed I am looking to go long from around 0.76200.
joao LewisGlasgow
@lewglasgow, That is what I thought...perfect...my idea is the same...And I am the one who thanks, your work and sharing ideas...I hope to learn with you!:)
@joao, excellent we'll see how it plays out. You're more than welcome, I've got plenty of educational content you may find helpful.
joao LewisGlasgow
@lewglasgow, Yes? where can i see it? do you have any site, blog?
+1 Antworten
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