glennmercer
Short

AUDUSD Short: 5-0 Pattern, Channel Res, 50DSMA, and Weekly Pivot

FX:AUDUSD   Australian Dollar/U.S. Dollar
6 months ago
Hey Traders! It's been awhile since I've shared an idea, I've been working on automating my trading strategy! AUDUSD             is approaching a critical level presenting us with an opportunity to enter a 2-3 week short with a nice R/R. The pattern that caught my eye is the bearish 5-0 which I've had success with in the past for 4H-1D charts. In addition to this, we have resistance from the weekly pivot, 50 day SMA , and a parallel channel confluent at the same level. Short entry is placed at the 5-0 "D" point with target at the 1.272 extension. I will likely move stop to B/E around the 50% move to target if triggered.

Bearish Confluence:
  • Bearish 5-0 pattern
  • Bearish parallel channel resistance
  • Weekly pivot resistance
  • 50 day SMA resistance
  • Bearish weekly channel

Feels great to be back on TV, hope you enjoyed and good luck to all!
6 months ago
Trade active
5 months ago
Comment: +100 Pips: Stop moved to breakeven. Maximum drawdown was just 26 pips.
snapshot
Follow me on twitter: @gmercerfx
Shoot me an email: gmercerfx@gmail.com
Hiisham
6 months ago
hey , long time hope u doing well, welcome back ;)
+1 Reply
AhmetAlperOzen
6 months ago
Welcome back. I send you tweet, worry.
Reply
ChatchaiVong
6 months ago
thank so much, please update again, open order
Reply
dswains
6 months ago
you very smart :)
Reply
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