Technician
Short

AUDUSD: I am short from 0.7658!

FX:AUDUSD   Australian Dollar/U.S. Dollar
5007 16 121
I initiated a short on AUDUSD             on friday after the initial upside spike. The price has shown multiple rejection of long term falling trend line. Meanwhile, it is forming a rising wedge reversal pattern. I see big potential to the downside, but as usual, i have a quick short term target and a longer term one.

All my ideas are just my personal view. Trade Your own view.

Likes and comments are appreciated and would keep me going ..
If you a question or would like to talk you can SKYPE me at : Technician - The Forex Channel
Twitter: @thefxchannel
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"Forecasting and trading are two totally different things. They both have a totally different outcomes. Scammers can play on this point, but experienced trader can smell their stinky smell from a mile. Be aware"
My Regards,
Technician
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xiiimik
3 months ago
How do you allocate position sizing between short-term and long-term TP? Thanks
Reply
Technician TOP xiiimik
3 months ago
I usually go 50/50.
+3 Reply
haemdoc
3 months ago
good idea. I will wait for a buy surge to get in at a good position.
Thanks for the idea. Your NZDCAD short entry made me some money. I am waiting for a retracement on that to get in again. BW
Reply
Batman-oz
3 months ago
Bring on Monday. thanks
Reply
ValeriuV
3 months ago
Hello tech, if you allow me just one observation, unlike the nzd/usd wich broke out of the correction on his way to the bigger trend line, the aud made a shart move but is still in the 4h up trend, so in my opinion is not impossible to see a big pullback before the next down move.
Hope I'm wrong and heads straight down
good look
Reply
Technician TOP ValeriuV
3 months ago
Thanks for your comment. I totally disagree with that. i think both the NZDUSD and the AUDUSD will head lower. Not breaking the trend line yet doesn't mean that it wont soon. Actually i would love to see an upside pullback so i can short more. (At the end, it is just my view and it can be wrong ofcourse).
Reply
ValeriuV
3 months ago
"sharp move " typo
Reply
analitykFX
3 months ago
I added same view 2 weeks ago, after first bearish weekly candle . So good luck for everyone in long term.
AUDUSD - long term short with great RR
+1 Reply
Technician TOP analitykFX
3 months ago
A long term trade here. I prefer shorter term trades. Cant handle it for so long.
+1 Reply
Prome PRO
3 months ago
Same View!
AUDUSD TOP CHANNEL REACHED
Reply
Noobsnoot
3 months ago
For short term, how many days or months is in your planning, usually?
Reply
Technician TOP Noobsnoot
3 months ago
I usually trade very short term hours to few days. Sometime i trade longer term trades with few weeks.
Reply
skoerding PRO Technician
3 months ago
Still valid ?
Reply
Rocketman PRO
2 months ago
Almost hit your target, and then......stop out right before the move down. Wow! It happens.
Reply
JeffKip PRO
2 months ago
Stop may have been a tiny bit tight. Very very good call, nonetheless. Thanks.
Reply
TPittard
2 months ago
I came to the same consensus, did you actually get stopped out though?

Currently sitting on a .786 retrace. Really good opportunity at hand.

What are your thoughts for the RBA Cash Rate for next month?

Reply
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