Short

AUDJPY 4H TF 5th-Wave Bearish

Updated

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

fnswingfx

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