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MEX_Exchange
Oct 17, 2017 2:31 AM

AUDUSD dropping perfectly as expected, remain bearish Short

Australian Dollar/U.S. DollarFXCM

Description

Sell below 0.7891. Stop loss at 0.7955. Take profit at 0.7789.
Reason for the trading strategy (technically):
Price is dropping perfectly as expected from our selling area. We remain bearish looking to sell below major resistance at 0.7891 (Multiple Fibonacci retracement, bearish price action) for a push down to at least 0.7789 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a reaction from.
Comments
Tau10
Thank you so much
HrvojeOdak
Great analysis. And working so far! Thanks
MEX_Exchange
@HrvojeOdak, phew! :P
byronman
I agree
MEX_Exchange
@byronman, glad to know you do bud!
jusur
thank you for the analysis!
tocokikizixeli
Hi! Thanks for the analysis!
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