AUDUSD: 2618 Trade setup followed by ABCD harmonic move !!!
Hello Traders,
Here we have a valid 2618 short trade setup, which is currently close to the completion point. Marking the LL's and LH's on the chart above, we see that this market is in a nice downtrend based on 60 min timeframe. Risk to reward for 2618 trade setup is 1:1 for the 1st target, with stops placed just above the swing high of the double top. After getting done with 2618 setup, we also have potential ABCD harmonic move that will complete exactly at 127.2% fib extension level and also near the previous structure lows (looking left). This could potentially give us an amazing risk to reward if are able to get down to 0.71747 level. See the chart above for more details.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Follow me on Twitter as well: moneymaking2016
Here we have a valid 2618 short trade setup, which is currently close to the completion point. Marking the LL's and LH's on the chart above, we see that this market is in a nice downtrend based on 60 min timeframe. Risk to reward for 2618 trade setup is 1:1 for the 1st target, with stops placed just above the swing high of the double top. After getting done with 2618 setup, we also have potential ABCD harmonic move that will complete exactly at 127.2% fib extension level and also near the previous structure lows (looking left). This could potentially give us an amazing risk to reward if are able to get down to 0.71747 level. See the chart above for more details.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Follow me on Twitter as well: moneymaking2016
Operación activa:
Hello everyone, short trade is active now. All the best :)
Operación cerrada: objetivo alcanzado:
Hello everyone, our 1st target has been reached. Stops now move to break even :)
Operación cerrada: objetivo alcanzado:
Hello guys, our 2nd target also has been reached. All positions are now closed for this setup. Next, we will be waiting for the ABCB harmonic pattern to complete before going long (a counter-trend trade) :)
Comentarios:
UPDATE #1: Hello everyone, after getting the CPI q/q high impact news at 8:30 pm out of the way, the potential ABCD harmonic move has been invalidated by the market. Therefore, there are no more positions to be placed based on the analysis provided in the chart above. All positions are now closed for this setup :)