tntsunrise
Short

AUDUSD Face Strong Rejection at 0.7590

FX:AUDUSD   Australian Dollar/U.S. Dollar
8632 26 180
AUDUSD             Face Strong Rejection at 0.7590

The recent rally gives a good place to short AUDUSD            

Price action shows bearish

hence we can short AUDUSD             as long as it doesnt'
break through 0.7600

Correction Move Finish, Major Trend Continue.
Trade closed manually: Fall to 0.7540 earned 50 pips, then hit SL @ break even
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Thanks for sharing...Thinking the same here

https://www.tradingview.com/chart/AUDUSD/pPGGDAtK-Going-short-AUD-USD/#tc594601
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arif_awan taksistalo
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Thank You for sharing :)
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@ryunaga63, yeah thanks, we short the market when suddenly price goes up
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arif_awan halimbashery235
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thanx for sharing this.
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in the sell since first break and added now. great chance.
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halimbashery235 ernstschwarz
@ernstschwarz, yeah great chance because im adding up the risk, now the price is shooting for the moon, goodluck
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ernstschwarz halimbashery235
@halimbashery235, there are great chances BUT relying on support or restistance is simply an illusion. it can hold but it can break. and you never now.
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seems corrective wave doesnt completed yet .
C wave is going up to 0.76430
i hope i am wrong because i already made short on AU
still thanks for sharing
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mehdisdt mehdisdt
@mehdisdt, i recalculate the waves
i see B is not completed yet it is going down to 0.75280
then will bounce to start wave C up to 0.76300
i still hope this be wrong
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I got in a little too early still holding
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The pair is making H&S in H4 TF... we may get a double top if H&S works
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going up to 0.76430 then down trend will starts again
giving sell signal on A wave was too early
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ok last crazy movement hit my stop 290 $ lose . lol . still was fun . seems now we can sell after trend change confirmation . nice try
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Youve been cold all year, Dollar disappointed me too
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i am impressed. that strong restistance was brutally strong...
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mehdisdt ernstschwarz
@ernstschwarz
i learned something interesting about waves
they never give a damn care about support or resistance . they crush it so easily .
that is why i dont use levels in my trades
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@mehdisdt, you are very right i think. well, there is something about support and resistance, but you need to have the bigger picture. s/r is good for finding better/riskier entrys and too for take profit levels while you are trading the waves...
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mehdisdt ernstschwarz
@ernstschwarz, yep this can make sense
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When is the time you think is good to move to breakeven point?
Can update here when your SL move to breakeven point?
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@YongLiang, when you think you have it enough, enough from long suffering and craziest dumbest dream that human ever imagine
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Surprisingly, rate hike makes USD weaker against other currencies and gold. This must be temporary only, let me know if you agree.
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@lio, well in general you are right. But the recent selloff of the dollar in almost all pairs expect GBP was due to disappointment of the FED future economic prognoses. It was conservatively dovish, conversely the market expected the opposite. Fundamentally I believe that AUD/USD pair is still heading down, towards 0.74 region or even lower though I do not exclude some more volatility to the upside. Medium to long run I am the bear. Best
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lio nightfoxFX
@nightfoxFX, thank you for your response. In 2015 and 2016, only 1 rate hike while 3 were expected. However, USD still went up significantly. The current selloff doesn't sound very logical indeed.
+1 Reply
So your trade goes your opposite?
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