JamesZhang
Short

[11/12] Short AUD/USD with 200 D's MAL

FX:AUDUSD   Australian Dollar/U.S. Dollar
93 5 4
  • 1/ The AUD/USD             has just tested the Resistance of 200 day's Moving Average Line which is also the 61.8% Fibo's Retracement. 0.7100 was a previous support position and became a resistance since it had been broken on Jan 6.
  • 2/ The MACD gives a over-buying value on 4hour's chart.
  • 2/ Suggest try short it at current price:
    Open 0.70825
    Stop 0.715
    TP 0.694
    Risk/Reward Ratio:2.09

Comment: Although the price is still restricted by 200 day's MA and 61.8% Fibo Retracement, it still couldn't break the first challenging support of 0.704 which is also the 76.4% Fibo Retracement.
Keep an eye on it.

0.71058(61.8%) is the point for the price to reach 0.7200, and the 0.704(76.4%) is a door to 0.6935.(100%)
Comment: Finally broke the first support and heading to first target.
Finally broke the first support and heading to first target.
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Very good strategy, good luck :)
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JamesZhang Piet.Hein
Thanks, Piet.Hen.
Reply
JamesZhang JamesZhang
Sorry for not typing your name correctly.
Piet.Hein !
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Piet.Hein JamesZhang
no worries ;)
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