Renforex
Short

(1D) AUDUSD Big Short

FX:AUDUSD   Australian Dollar/U.S. Dollar
As you can see from the related idea, a lot of money was made within the previous structure and upon the exit of structure. Textbook moves, very easy to read. (I may have typo'd in the title of related idea lol)

Here we have another very simple move. I don't need to explain much so the simple rules of this trade are as follows if you have not already entered:

- Break of blue line invalidates the idea
- Break of the white line is your conservative entry
- Red arrow shows general direction, not exact time and price
- Hold on to profit, not hope


Sorry for being gone for a while. I was on a cruise.
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2H candle closing under green zone (turns red zone) will be a good signal for bears.
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Comment: For above chart, set stops above 0.7435 (above 50% mark)
If reaches this point, it's just another opportunity to add shorts
Comment: More entries. See related ideas.
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On your last update, I had the same conclusion. Probably gunna enter another short as it moves down, what are you going to use as confirmation that the retracement is over?
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Renforex calebcruz
@calebcruz, I didn't wait for confirmation. My order was hit just after I posted the update. I have stops above the 50% mark and more orders at that position just in case the retracement continues... I don't like waiting for confirmation haha
+1 Reply
calebcruz Renforex
@Renforex, haha dang. See the reason I asked is because after making profits on the first big jump I got cocky and entered another short right before the retracement. So now I'm down about 30 pips and I'm just trying to see if I should enter another short here or wait for some further confirmation lmao
Reply
Renforex calebcruz
@calebcruz, As long as your stops are high enough I don't see why you can't add here. But I guess as long as you hold your position you will see profits increase again today :) Good luck!
+1 Reply
calebcruz Renforex
@Renforex, Thanks mate, same to you! Let's make some moneyyyyy!
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MA's are confirming on the 5min lol
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Here we go man!
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Renforex calebcruz
@calebcruz, Enjoy the pips brother
+1 Reply
calebcruz Renforex
@Renforex, you do the same! I think it's about to drop big time now.
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It is retrace to fibo 6.81%. Is there any change to break that fibo level @Renforex
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Renforex mrhimsly
@mrhimsly, there is always a chance it could go the full way to 100, but I guess it isnt too likely. I'll wait and see what Monday brings us
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mrhimsly Renforex
@Renforex, If Monday is corrective again. Do you think the chance is more higher?
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Renforex mrhimsly
@mrhimsly, If it does then I'll lose the pips I made on the pair this week haha so let's hope not. I am thinking this is as far as it will go though... Aud is always tricky in December and January
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Very quick respond. I think I will like it and keep watching your idea.
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