FOLLOW UP STRUCTURE | AUDUSD (4H)

We are presently enjoying a 76pips profit run on our last speculation on this pair (see link below for reference purposes). As price action keeps suggesting a further rise, find below our plan in this regard

Tendency: Uptrend ( Bullish )
Structure: Harmonic | Gartley
Observation: i. Using Fibonacci ratios, the retracement between point X and point B is approximate of 61.8%.
ii. At point C, expecting the price to reverse to point D.
iii . Price action at point D confirms the completion of the Gartley .
iv. Price action above Moving Averages.
Trading plan: BUY with TP1 and TP2 @ 110pips and SL @ 0.67700/0.67500 zone.
Risk/Reward: 1/3
Potential Duration: 4 to 10 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space for updates on lower time frames as price action is been monitored.


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