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Short

AUDUSD - Key Technical Level Broken - Bears Away

FX:AUDUSD   Australian Dollar/U.S. Dollar
423 12 16
11 months ago
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
11 months ago
Comment: Same with AU - Bears til end of week likely - retest happened

Related Ideas

Forex-De-Lis PRO
11 months ago
Nice call, I had something similiar. What kind of target do you have (if you don't me asking).
snapshot
+1 Reply
Synapse Forex-De-Lis
11 months ago
Retest of the daily lows around .6900 then as much as we can get. Nice chart and thanks for the feedback.
Reply
forex0821
11 months ago
AU Retesting weekly breakout
Reply
forex0821
11 months ago
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.
Reply
Synapse forex0821
11 months ago
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
11 months ago
Key Technical Support* typo
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forex0821 Synapse
11 months ago
Yah got that. Move have started just as expected.
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forex0821
11 months ago
Do you use same username on telegram?
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Synapse forex0821
11 months ago
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
11 months ago
Ok Synapse. Thanks.
Reply
Forex-De-Lis PRO
11 months ago
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
11 months ago
Those look like great targets :)
Reply
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