AUDCAD end of wave 3, ABCD Pattern and Fibonacci 1.886

AUDCAD is moving in its major descending channel, before continuing its decline there must be a secondary movement before the price can continue its decline, in this idea we take a long position at 0.9256 which coincides with the Fibonacci ratio of 1.886 and the ABCD pattern (AB=CD or 1=2)

SL: 0.9207 (48 pips)
TP: 0.9447
RR 1:4

Komentar:

sorry i wrote it wrong i mean 1=3 not 1=2

Trade aktif:

in this idea I will risk 2R because it looks like the candle has broken through the doji in the previous candle, I'm afraid we will miss the entry
Instant Buy 0.9281
SL: 0.92263 (55 pips)
TP: 0.94479
RR 1:3

Buy Limit 0.92559
SL:0.92079 (48 pips)
TP: 0.94479
RR 1:4