I'm setting up a long trade on AUDUSD based on a 15-minute chart using Elliott Wave analysis. The chart indicates a potential upward move in wave (5).
My entry point is around the current price of 0.64782.
I'm targeting the following levels for wave (5):
- 0.618 at 0.65428
I'll place my stop loss slightly below the recent low to manage risk. As the price approaches the target levels, I'll adjust my stop loss to secure profits. This setup aims to capitalize on the anticipated upward movement in the Elliott Wave sequence.
My entry point is around the current price of 0.64782.
I'm targeting the following levels for wave (5):
- 0.618 at 0.65428
I'll place my stop loss slightly below the recent low to manage risk. As the price approaches the target levels, I'll adjust my stop loss to secure profits. This setup aims to capitalize on the anticipated upward movement in the Elliott Wave sequence.
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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.