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
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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 :)
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
LewisGlasgow
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@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
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@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!:)
LewisGlasgow
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@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
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@lewglasgow, Yes? where can i see it? do you have any site, blog?
LewisGlasgow
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@joao, all of my free educational content is posted on here :) like shown below.
I run my own private trading community outside of trading as well.