AUDUSD - Possible reversal area (short term)
STEP1 :AUDUSD just completed Gartley pattern and reacted with local AB=CD correction.
STEP2: Bullish reaction on 1.618ext of BC wave Gartley pattern.
STEP3 (yet to come): I expect another bullish movment here:
Wide AB=CD @ 0.752 + 0.886 retracement.
Alternate scenario:
If it breaks the bottom of AB=CD @ 0.752, look for short term buy @ 0.750
Overall, trend is bearish since we broke the major trendline.
Trade responsibly.
STEP2: Bullish reaction on 1.618ext of BC wave Gartley pattern.
STEP3 (yet to come): I expect another bullish movment here:
Wide AB=CD @ 0.752 + 0.886 retracement.
Alternate scenario:
If it breaks the bottom of AB=CD @ 0.752, look for short term buy @ 0.750
Overall, trend is bearish since we broke the major trendline.
Trade responsibly.
I remind it's short term trade, so anything above 20pips is good target.