AUDUSD, daily tf, potential bearish shark pattern
Hello my friends,
Another setup to wait for is AUDUSD.
As you can see, i tried to analyze this pair with a combination of elliott wave and harmonic pattern.
I found something interesting in this pair which is a potential bearish shark pattern on the daily timeframe.
AUDUSD right now retesting that 0.7500 area as a resistance which has served previously as a support.
We're currently on Wave-V which could end at the 127% fibonacci level of Wave-IV which located at 0.7520-30 area.
After Wave-5 complete, we could then expect ABC correction from AUDUSD.
It will be more convincing if there are bearish candlesticks appearing on 0.7520 area.
Sell limit AUDUSD 0.7525
Stop loss 0.7600
Take profit 0.7300 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
Another setup to wait for is AUDUSD.
As you can see, i tried to analyze this pair with a combination of elliott wave and harmonic pattern.
I found something interesting in this pair which is a potential bearish shark pattern on the daily timeframe.
AUDUSD right now retesting that 0.7500 area as a resistance which has served previously as a support.
We're currently on Wave-V which could end at the 127% fibonacci level of Wave-IV which located at 0.7520-30 area.
After Wave-5 complete, we could then expect ABC correction from AUDUSD.
It will be more convincing if there are bearish candlesticks appearing on 0.7520 area.
Sell limit AUDUSD 0.7525
Stop loss 0.7600
Take profit 0.7300 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
