AUDUSD Elliot Wave-Still Moving Past 0.6850 ?
AUDUSD is about to make the (final) 4-5 leg 0.6850 is a big place of resistance for 2 reasons:
It's a quarter level, and prices tend to make moves off of these levels. The 61.8 % Fibonacci retracement from the 2-3 leg on the 1H timeframe (prices 0.6837-0.6873) hits exactly 0.6850. So there is a high probability the Elliot Wave completes and ends up around 0.6894
My stop loss is currently set right below the half level
It's a quarter level, and prices tend to make moves off of these levels. The 61.8 % Fibonacci retracement from the 2-3 leg on the 1H timeframe (prices 0.6837-0.6873) hits exactly 0.6850. So there is a high probability the Elliot Wave completes and ends up around 0.6894
My stop loss is currently set right below the half level