AUDUSD is on the downtrend so I am looking to short this wherever possible.
However there is a long alternate bat pattern coming at last week low of 0.7175 area. If this is triggered then we have a long trade for about 100 pips. This would like to a likely gartley pattern to short as shown in the chart.
Let's see how this pans out next week.
However there is a long alternate bat pattern coming at last week low of 0.7175 area. If this is triggered then we have a long trade for about 100 pips. This would like to a likely gartley pattern to short as shown in the chart.
Let's see how this pans out next week.
Order cancelled
I didn't take this trade for 2 reasons.1) The red line was pierced with a bearish bar that invalidated the pattern.
2) I posted an idea on NZDUSD which was in line with my analysis 2 weeks ago.
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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.