tntsunrise
Short

AUDUSD rejection at 113% level

FX:AUDUSD   Australian Dollar/U.S. Dollar
6772 51 131
AUDUSD             rejection at 113% level

I decide to enter a short position at 0.7706
as this is the 113% extension level which often
detects a fake break out.

the RSI already shows Divergence
the price action             shows nice rejection at his level
a long tail candle touchs and falls quickly
SL is very tiny: 0.7716
Target is very big 0.7477 and 0.7150
Comment: So far So good, 50 pips +
Comment: A SPIKE HIT THE SL
so exit trade first
Comment: tmr is NFP. lets wait the NFP comes then decide whether to re enter the trade or not
Comment:
snapshot
Trade active: FILLED AT 0.7645
Comment:
snapshot
Comment: We short at 0.7645, now is 0.7626.
Comment:
snapshot
Comment: Take some profit at 0.7520 +120 pips
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Are we still expecting a drop? this is one nasty wave up
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Do you think it will continue to go down?
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wave 1 complete, 50 - 61.8 fib retracement now to complete wave 2 before wave 3 big drop. may be a good time for those who have not entered to enter once it reaches the fibs.
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good trade.. thank you
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thanks for your idea, I am able to catch this and will continue to watch this :)
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Jack, what about the RBA rate decisión? Should we close trade, or change to BE?
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tntsunrise TOP felipenavarro1
no need
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Hi dude ! have you taken tmr's RBA effect. If they hold rate then aussie shoot up!
+1 Reply
same as what i expected. RBA is dovish
Reply
waterman tntsunrise
You are always right in correct judgement dude Thanks !
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