AUDUSD Novice Gap Filled and Looks Bearish

Australian Dollar/U.S. DollarFXCM

Description

⋅ Apr 25, 2017 9:46 PM

After completeing a Novice GAP
AUD USD looks quite bearish in daily chart.
The Gap was filled totaly and broken by yesterday's candle.

Now the trend line is the major support.
Watch for the breakout of the trend line
find the pull back and retest to enter a short.

The room for downside is very big.
As always, use multiple time frame for good entry

Comment

⋅ Apr 26, 2017 12:57 PM

Comment

⋅ Apr 26, 2017 12:59 PM

Here is what I mean by multiple time frame

Comment

⋅ Apr 26, 2017 12:59 PM

Trend Line Break

Comments

Lasertrade

⋅ May 2, 2017 11:46 PM

Hey Jack, is this idea still valid? Seems like the drawn diagonal is now getting support. Thanks for some thoughts.

Lasertrade

⋅ May 3, 2017 4:03 AM

Question was premature. Ignore pls.

FUNTRADER-Vera

⋅ Apr 27, 2017 12:32 PM

Jack , same idea.

Caripoule

⋅ Apr 27, 2017 9:59 AM

weekly kijun 0.74690 aka 3 months support is holding so far. lets hope it breaks..freefall

shenxiaoxuan

⋅ Apr 27, 2017 12:03 AM

If short @0.7490, where is the place to set SL?

drsteigerwald

⋅ Apr 26, 2017 3:35 PM

Thanks Jack!

praveenpp

⋅ Apr 26, 2017 1:28 PM

It has to break the following trend line for the confirmation.

UnknownUnicorn669425

⋅ Apr 26, 2017 1:19 PM

Thanks Jack for all the valuable knowledge sharing:)

RoboCash

⋅ Apr 26, 2017 1:10 PM

Hi Jack, What do you think of this? looks like on support..

s3.amazonaws.com/tradingview/snapshots/o/occaqUg8.png

tntsunrise

⋅ Apr 26, 2017 1:17 PM

@RoboCash, sorry...to many lines in this chart..