Roker1
Long

AUDUSD bunch of clues!

FX:AUDUSD   Australian Dollar/U.S. Dollar
Hi guys,
just wanted to share with you this analysis i've made on AUDUSD             . All this starts from higher timeframe, if you take a look at the daily chart , you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i go into details searching for reasons to go short/long.
In this case you can see on the 4hr chart we have an AB=CD pattern already completed at a psychological number (0,7500) together with a 382 fibonacci retracement (of the bigger daily leg) and an RSI divergence.
In conclusion, i'm waiting a little pullback in order to get a better entry and therefore a better risk to reward ratio.
Hope you like it!

If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached: First target hit! Stops at break even.
Trade closed: target reached: Second target hit!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/Xq8ZlI1YhAM
long until 50?
+1 Reply
KonigChen KonigChen
@KonigChen, 50 fibonaci retracement
Reply
Roker1 PRO KonigChen
Hey @KonigChen, 0,7563s would be my first target
+1 Reply
@Roker1, My 50 Fib is at 0.76149 (this is my fib recalculated to where 0 is now at 0.75006). I see my POE now being 0.75309, TP1 0.75831, TP2 0.76149, TP3 0.76418. You were SO RIGHT not to work the up leg. Just look at what happened to it! I bailed out of my up leg trades thanks to you :-) They were only micro lots, but ithere is a larger principle here,
+1 Reply
Roker1 PRO Glendooie
Hey @Glendooie, you have to be predictive in your analysis but not in your execution! ;)
+1 Reply
@Roker1, I need to improve the objectivity of my analysis :-(
+1 Reply
Roker1 PRO Glendooie
@Glendooie, write down a strategy plan, with simple and objective rules, then go back and test it! Only in this way you can improve your results!
Reply
@Roker1, Noted. Testing a strategy plan is a novel approach to me. Not intended as an excuse - just a statement of fact.
+1 Reply
Roker1 PRO Glendooie
@Glendooie, when testing a strategy you can verify the results you had and so boost the confidence you need in order to trade during drawdown. The toughest part isn't finding a strategy, it's being consistent.
Reply
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