HayatoDragonFX

AUDUSD, 4hr tf, ABC correction wave-C after rising wedge

שורט
FX:AUDUSD   דולר אוסטרלי/דולר אמריקאי
Hello my friends,

For today i am trading AUDUSD.
This pair come to my screener an i am going to analyze it more deeply with Elliot Wave.

In my opinion this pair could rotate lower again as there is a rising wede/triangle pattern which support has been broken. We could assume this as an ABC correction after the fierce rally of AUDUSD since March until today.

Price come to retest this broken rising wedge trend line, which is also where 61,8 fibs retracement.

Sell AUDUSD 0.7300-0.7290
Stop loss 0.7350
Take profit 1 @0.7250
Take profit 2 @0.7200

RR ratio 1 : 2
Use only 1-2% risk
Good luck

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