A key reversal outside bar has been formed in daily time frame. Aldo, the outside bar has retraced 61.8%. On that note, I expect AUDUSD to go up. Minimum target is 0.6800 (138.20% using reverse fib method).
I took this trade based on Daily TF as I saw multiple inside bar trade setup after a period of consolidation. However, when I went to 4H TF, it seems to be W3 of an impulse wave. I took partial profit of the trade. Now, it seems W3 is complete and I will wait for W4 to be completed . I will go short after further confirmation.
Possible triangle formation on weekly TF. Entry, SL and TP will be clear after D leg and E legs are developed.
Trend of weekly TF is Corrective Seems to be Zigzag pattern is being formed If WB of B is completed, WC of B is in progress Minimum Target - 84.27 Appreciate feedback and please correct me for my own education
I would like to have suggestion from others about this chart for my own learning purpose. Here I see a leading diagonal pattern which can be formed potentially at: W1 or WA of Zigzag In either case, the next move up does not have the personality of corrective wave. From the formation of Zigzag perspective, it can be formed at: W2 or W4 or WB or WX of double...