AUDUSD Nearing High Probability Reversal Zone
Updated
AUDUSD is nearing the completion of a bearish bat on the 1HR timeframe. This level is confluent with a .382 fib and AB=CD pattern. Additionally, a lower TF wave count indicates a possible wave four in process, pending the last wave in the impulse. I will be risking less capital on this trade as it will be an overnight limit order and I will not be able to provide live updates.
Order cancelled
I cancelled this limit entry because I did not a wave count that supplemented entry. HOWEVER, I see a reason to short now after looking at the 15m TF:
Remember to trade only according to your plan and the most important factor is proper risk management! Good Luck
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