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.
Feels great to be back on TV, hope you enjoyed and good luck to all!