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Short

AUDUSD - Key Technical Level Broken - Bears Away

FX:AUDUSD   Australian Dollar/U.S. Dollar
424 12 16
Greetings Fellow Traders,

I'll keep this SHORT (pun intended) and sweet. AUDUSD             has provided us with a great selling opportunity if we are patient enough to wait for the proper entry. Lower time frame resistance was illustrated at .7059 so I will look to sell AUDUSD             at .7050 on a retest of the daily trend line shown.

This trade should be realized within the next 24 hours.

Here's a closer look at how the entry levels were determined:
snapshot

Feel free to follow/comment/like or join me on Telegram
Comment: Same with AU - Bears til end of week likely - retest happened
I'm aiming for .6948 as TP1 and .6909-.6900 for TP2. (both based off longer term trend lines)
After TP1, I'll just trail until it's stopped out.

snapshot
+1 Reply
Synapse Forex-De-Lis
Those look like great targets :)
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Do you use same username on telegram?
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Synapse forex0821
My username on Telegram is @Pearsyn, you can use it to ask me immediate advice on any currencies that you're looking at, share ideas, invest questions, anything really. I'm also testing a trade call room for those that are interested.
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forex0821 Synapse
Ok Synapse. Thanks.
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That is the fractal nature of market, audusd on 60m and weekly chart look similar. I can see a breakout of the upper trendline on 60m which also happen on weekly chart and now retesting it, having some bias to the upside continuation.
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Synapse forex0821
I'll respectfully disagree with your analysis :) AUDUSD isn't retesting any bullish move, it is breaking them. It's confirming bearish trends that are already in place. The next real test for AUDUSD is going to be a retest of the lows created at .6900 area as this would have the potential for a double bottom. Keep in mind (and I'll be posting about it either today or over the weekend) that we are likely going to have some sort of pullback. NZDUSD is a mere few hours away from closing the week below it's Key Technical resistance - a retest and short entry will be up for the taking first thing next week. This would go hand in hand with AUDUSD and further downside expected.
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Synapse Synapse
Key Technical Support* typo
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forex0821 Synapse
Yah got that. Move have started just as expected.
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