AUDUSD EW Count & 5-0 Short Entry
Updated
Hey traders! We have another opportunity to short AUDUSD at the 50% retracement of the bearish leg we just traded. There is some resistance being shown in the entry area, and SL has been placed above potential pin resistance. Three targets can be seen on the chart, at 1, 1.272, and 1.618 fib levels respectively. If price continues to rally, we will re-evaluate the opportunity. Happy trading!
Trade closed: stop reached
Looks like one more rally is pending. I want to sell afterward. Still eyeing SHORT opportunities, but must exhibit patience before entry. More updates to come, they'll be posted to related ideas. Check updated wave count here:
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.