tntsunrise
Short

AUDUSD Confluence Area

FX:AUDUSD   Australian Dollar/U.S. Dollar
5135 39 115
AUDUSD             Confluence Area
0.7653 is the 0.618 Level from 0.8163 to 0.6827
It is also the 200% Ext of the Recent Impulsive Wave

Watch cloesly at this level and there might be
interesting price action.
If you see a Doji , Shooting Star or any Beraish Candle
patterns, then it's time to Short AUDUSD             again
It's best if price make a doulbe top in 1h chart
Trade active: Sell Order 0.7653 Filled
Sell order 0.7656 Filled
Comment:
snapshot

RSI Divergence
Comment:
snapshot

Nice Drop, 40 pips already
Comment: Now is 0.7600
Comment: now is 0.7540, +110 pips
Comment:
snapshot
Comment: Now is 0.7487, +170 pips
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Thanks Jack
+1 Reply
do you have a tp on this one?
Reply
what's the TP?
Reply
tntsunrise TOP chengchengaus
will update it later
Reply
Hi Sir,
When the USD is fundamentally not strong.. Is it still a good view to short on this based on the technical pararmeters. ?
Reply
FxTyrant christom
I wouldnt be too surprised if this trade would work out given its Friday, usually when AUDUSD risen this much without a retracement, not hard to assume a possible top formation on a friday with possible profit taking by the AUDUSD bulls.
Reply
Is it double TOP right now, Sir?
Reply
tntsunrise TOP LukaszMosinski
potential double top. double top must break neck line
Reply
Hi Jack can you update your view about this trade ? Thanks a lot
Reply
no change.
Reply
haven't touch 0.7653 yet
update wat?
+1 Reply
ziosam tntsunrise
Thanks sir. Only one question 0.7653 is a right SL for you or we have to set up more higher ?
Reply
ziosam ziosam
Now we have reached 0,7653 SL hited
Reply
0.7653 is my entry level NOT sl LEVEL
Reply
Sir I have shorted AUDUSD from 0.75500 and holding my trade as per your anaylsis what you recommend me now please ? should I Hold my trade or hedge it ?
Reply
0.7653 entry reached, what of tp?
Reply
0.7440
Reply
Very nice set up ! Being Friday and w/e this will work . Congtrats! and Thanks !!
Reply
Welcome
Reply
I am still learning ;) your chart help a lot. Thanks for sharing :D
Reply
queenrossana queenrossana
sir,, I want to ask how do I determine TP point,, what level fibo usually?
is there any relation retraction lvl fibo and TP level ? #confuse...
Reply
tntsunrise TOP queenrossana
TP point you can always use structure
Reply
KINGRI tntsunrise
I MISSED SIR CAN I ENTER NOW FROM 0.7645
Reply
YES U CAN
Reply
Hi Jack. Here is what I see:
snapshot

snapshot
Reply
uzair18 bulent_akgul
Sir Should we keep selling on AUDUSD till 0.7400 ? what you suggest
Reply
I still keep my short positions but I am so afraid. If your loss isn't much, I suggest you close your positions during the retracement. If my count correct, it will drop to 0.740 - 0.741 (purple line). I can not close meins because my loss is big. My strategy is to take some long positions during retracement and close that positions end of wave-5. Btw, Wave-5 can go much further than I draw. This makes very dangerous to keep short positions. But some time in the future it should retrace much deeper even up move is a new trend.
Reply
uzair18 bulent_akgul
Thank you so so much for considering me .... actually i have short positions at 0.75500 and i think i should hold till breakeven my loss is big due to big lot size so how much you are sure that it will cum back till 0.75500?
Reply
It is very hard to say something how much I am sure. It is not a good way to speak about price actions, basiclly, who knows. I can only say that I hope it will go down to 0,74.
Reply
hold your short position.
Reply
tntsunrise TOP bulent_akgul
Nice Chart
Reply
Hi, Do you move your SL as the trade progresses in your favor? Thank you!
Reply
you can alwasy make a protective stop loss.
Reply
What's your update for this trade ?
Reply
tntsunrise TOP mustafawahba
no update means keep your short position
Reply
Sir, I am new in trading FX, have a question want to ask, assumed AUD is really rejected by 0.618 level now, how can I determine the target will reach? should I draw another fibo for this rebound and calculate 0.618 level for the target? thanks!
Reply
tntsunrise TOP hongkongforex
yes. u can apply another fibo to determine your target
Reply
Hi Jack can you update your view on this pair ? is there same changing in short strategy ? thanks
Reply
no change. hold your short position
Reply
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