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,
Pending Short AUD/USD in mid 0.91XX Region
, 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
Update, given the swing up on Friday, this trade is back in play as we approach the 0.933X region in the coming week.
Reply
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...
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out