QUICK ONE | FOLLOW UP STRUCTURE FOR AUDUSD (2H)

We were enjoying 136pips profit run on this pair (see link below for reference purposes) before we experienced a correction move and it appears price is running into the DEMAND zone in anticipation of the rally as USD falls. See plan below


Tendency: Uptrend ( Bullish )
Structure: Harmonic | BAT
Observation: i. There is a price drop via XA leg.
ii. B retraces 0.5 of XA leg.
iii. BC retraces 0.382 of AB.
iv. CD is expected to be w 1.618 approximate extension of AB.
v. D is at a 0.886 retracement of XA leg.
vi. Price above Moving Averages on lower time frames.
Trading Plan: BUY with a potential profit of 200pips.
Risk/Reward: 1/5
Potential Duration: 3 to 10 days

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



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