AUD/USD - Bullish 5-0

22 Mar 2017

Hello traders, it appears AUD/USD is now forming a 5-0 pattern on the 1h chart. This is a follow up from a successful short which is about to hit take profit (chart is shown below).

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

All round excellent opportunity with over 1:3 risk to reward.

I hope you all have a great week :)

23 Mar 2017

İşlem aktif

Price has now reached the PRZ and I'm happy to go long, the risk is pretty minuscule considering my stop loss will be a maximum of 45 pips.

This week I made 120+ pips shorting AUD/USD so this is a no-brainer for me.

Hopefully be able to take profit before market close tomorrow :)