AUD/USD - Go Long RGHT NOW !!! - Minimum risk/reward 1 : 3.5
Price seems to have started a wave A as an impulse.
We are currently in wave 2(black) of wave 3(orange) of wave A (green).
Therefore, buy towards 0.7300, where price will find natural resistance.
Stop loss level : 3 possibilities depending on your risk level.
~ 0.7070 ( wave 2 should end around 0.7078)
~ 0.7510 (orange wave 2 low)
~ 0.7021 ( wave 1 (orange) low)
* First stop : would negate the sub wave (ii) termination point. But not the whole move.
* Second stop : subwave 2(black) should normally not be bigger than wave 2(orange) but can happen.
* Third stop : negates the impulsive wave count.
Make your choice :)
PS : Look at my previous post for the oerall view of the move.
PPS : Comment, like and share;)
We are currently in wave 2(black) of wave 3(orange) of wave A (green).
Therefore, buy towards 0.7300, where price will find natural resistance.
Stop loss level : 3 possibilities depending on your risk level.
~ 0.7070 ( wave 2 should end around 0.7078)
~ 0.7510 (orange wave 2 low)
~ 0.7021 ( wave 1 (orange) low)
* First stop : would negate the sub wave (ii) termination point. But not the whole move.
* Second stop : subwave 2(black) should normally not be bigger than wave 2(orange) but can happen.
* Third stop : negates the impulsive wave count.
Make your choice :)
PS : Look at my previous post for the oerall view of the move.
PPS : Comment, like and share;)
Note
Price exploaded for wave 3 as expected giving +135pips already.Move SL to break-even.
Wave 3 nearly ending, expect therefore a wave 4 lower before one last push higer to end the larger degree wave 3.
Note
Move Stop to wave 1 high so that whatever happens, you still get some pips out of it.Note
Take some profits.Note
Wave 3 finished, wait for the corrective wave 4 to end and scale in.Trade closed: target reached
+242pips for first entry+219 for second one
+85pips for third one
--------------------------
total : +546pips !!!
Note
Now I'm expecting price to fall for a B wave before starting to go long again for wave C.Short it if you like.
Note
Note
Wave ((a)) finished, now price making wave ((b)), don't get fooled, there will be a new leg lower.Note
Updated chart :
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Disclaimer
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Related publications
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.