AUDUSD - Key Technical Level Broken - Bears Away

FX:AUDUSD   Australian Dollar / U.S. Dollar
424 12 17
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:

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.

+1 Reply
Synapse Forex-De-Lis
Those look like great targets :)
Do you use same username on telegram?
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.
forex0821 Synapse
Ok Synapse. Thanks.
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.
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.
Synapse Synapse
Key Technical Support* typo
forex0821 Synapse
Yah got that. Move have started just as expected.
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