FOREXEL

Waiting and watching to go short

FX:AUDUSD   Australian Dollar/U.S. Dollar
50 1 0
The the ongoing correction higher came to a halt where price have been under pressure for over a week. The upside is still limited until it breaks the 20 day MA at 0.7938 and if it does the it is going for a H&S pattern with 2nd shoulder coming in at 0.8022-74 where it will be time to sell again. If it would break even higher then 1.618 fib is at 0.84.

The inner trendline limited the downside at the end of last week but there is a clear downside target at 0.7541 ( ish             )

I will watch the price action and wait and see which possible upside target may come to a halt this time around

Related Ideas

FOREXEL
Triangle/MA play
FOREXEL about USDCAD 1 2 years ago
FOREXEL
2 years ago
Spot on
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