AUDUSD short the corrective wave
>Wave 3 met resistance at 1.618 the length of wave 1, so i'm expecting a pullback
>Daily overbought on RSI
>There is a significant amount of open book orders just above 0.76 so that shall be my first target.
>Around 0.756 is my second target given it being a 0.618 retracement off the 3rd wave and being above the supportive trend line.
>Stops will be placed above the long-term significant resistance trend line (so above 0.7735)
>I will roll my stops to break-even if price action goes below 0.764
>today's high of 0.76808 could be the C point in a weekly bullish gartley pattern starting 19-12-2016
Disclaimer --> this is not a completed gartley so I don't trust it and neither should you
GARTLEY IS KING! LONG LIVE THE KING!
>Daily overbought on RSI
>There is a significant amount of open book orders just above 0.76 so that shall be my first target.
>Around 0.756 is my second target given it being a 0.618 retracement off the 3rd wave and being above the supportive trend line.
>Stops will be placed above the long-term significant resistance trend line (so above 0.7735)
>I will roll my stops to break-even if price action goes below 0.764
>today's high of 0.76808 could be the C point in a weekly bullish gartley pattern starting 19-12-2016
Disclaimer --> this is not a completed gartley so I don't trust it and neither should you
GARTLEY IS KING! LONG LIVE THE KING!
Note
shorted @0.767Note
closed half the position as wave 3 ended up being greater than expected @0.7675
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.