AudUSD Sell idea based on fib and megaphone pattern
$ is doing a long unwinding pull back. This can be used to enter trades in other currencies such as AUD which had runup in the past.
> Half the quantity can be sold now and other half at 23% fib.
> Once the price breaks 38 % down (30 min candle open and close) then can add to your positions.
>> Target is 62 % fib. But I think its better to keep the trade running with the a trailing stop loss.
> Half the quantity can be sold now and other half at 23% fib.
> Once the price breaks 38 % down (30 min candle open and close) then can add to your positions.
>> Target is 62 % fib. But I think its better to keep the trade running with the a trailing stop loss.
Comment:
Those who missed entry... can enter again in the 0.7730 region. Its the retracement touching zone with the bottom of megaphone pattern. But be careful today ECB PC event.