AUD/USD Sell Limit Possibility
After 7 days sideway movement for b-wave, the pattern has been completing the c-wave of a zigzag. It is a bearish trend but I think we are not quite there. It is possible that price reach to the 0.71872 level that is the 38.2% Fib retracement of 1st-wave. the way for trading in this situation is to put a sell limit order at 0.71872 and consider the possibility for the price, to retrace to the start of the 1st-wave at 0.72460. In this case, Risk/Reward ratio for this position ( TP at 0.71123) would be 1.25 which is not good enough. But if we put the sell limit order at the 0.72098 which is the 50% Fib retracement for 1st-wave, then we have a 2.84 risk/reward ratio.
Trade fermée: cible de profit atteinte
Price has reached to the target. but impulse wave is not completed. possible continuation of downtrend.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.