Again ABCD worked on AudUsd 3 August

Yesterday I posted a chart showing we are to the pip having a perfect AB=CD pattern. Once the pattern completed I shorted it 0.9140 0.9134. My target was conservative on hourly due to USD sell off across the board. 61.8 fib worked fine. RBA overnight hinting for no rate hike soon helped AUD bulls ease a bit. Check charts for more informations. ABCD pattern offered a very good risk reward as I had a stop at 0.9170. We still may face more retracement if USD turn finally alive!

Your comments too are welcome and you can always reach me on twitter @fx_13.

(Please click on the forex chart thumbnail to enlarge)

No comments:

Post a Comment