I have been trading this harmonic pattern which most likely will be completed with a 5 wave sequence. I have traded the 3rd impulsive wave and I am looking to chase after the 5th. For next week, I am looking to enter at the red counter trendline break and chase after the 5th wave target. We have a nice confluence 5th wave level with the crab pattern completions. It offers a good 1:2 Risk Reward ratio.
Comment:
This market moved up slightly and offer a better price to short. I am entering at market if this 4H candle closes as is.
Trade active:
Trade Active @ 85.676 risking 1% of my account size
Comment:
I am looking to add another position right around this area at around 85.184 to my initial position at 85.676
Comment:
Unexpected Aussie strength across the board, I am going to hold my position but if I am stopped out at 86.5, I am going to look to reenter short at a confirmation.
Trade closed: stop reached:
Stopped reached. I still like the idea however, I will look to re-enter short
