ForexWeeklyAnalysis
Short

Pending Short AUD/USD at 0.933X (61.8% fib level)

FX:AUDUSD   Australian Dollar / U.S. Dollar
180 2 6
Given that I messed up my previous analysis, , which yielded a net loss of 0.9% (not a big deal) and having exited at 0.9220. I will be trying another short position at 0.933X, which is where the 61.8% fib level is. However, based on how today's candle closed, it may not have the power to get there. At the very least, I expect a retrace to test the highs before tanking down but then again, if you look at the past 3 pinbars, none of them had retraces so this down move may have already started.

Depending on your tolerance, stop loss would be 25-50 pips above 0.933X.

Target 1: 0.915X
Target 2: 0.905X
Target 3: 0.891X
Target 4: 0.865X
My pending shorts filled this morning with a 0.9340 avg price but just got stopped out. It doesn't seem to be my week right now, I should probably take the hint and take a break but will wait to see what happens with my USD/CAD and EUR/USD trades first...
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Update, given the swing up on Friday, this trade is back in play as we approach the 0.933X region in the coming week.
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