From the chart, you can clearly see that AUDUSD has completed Wave (4) to the upside, and started its Wave (5) down.
It is advisable to enter into a short trade near 0.7825, with a stop loss at 0.82, and a stop win at 0.65.
It may go lower, but 3.5 : 1 ratio is good enough. I consider this one of my high confidence trades.
You can refer to my other post from Apr 2017, linked below. Basically I was waiting for this Wave (5) since Apr 2017.
If you like my analysis, please mouse over "larry47" above and click FOLLOW.
Happy trading
--Larry47
It is advisable to enter into a short trade near 0.7825, with a stop loss at 0.82, and a stop win at 0.65.
It may go lower, but 3.5 : 1 ratio is good enough. I consider this one of my high confidence trades.
You can refer to my other post from Apr 2017, linked below. Basically I was waiting for this Wave (5) since Apr 2017.
If you like my analysis, please mouse over "larry47" above and click FOLLOW.
Happy trading
--Larry47
