AUDUSD: RIPTIDE Long

Australian Dollar/U.S. DollarFXCM

Description

⋅ Oct 4, 2017 12:06 PM

Hi traders!

AUDUSD seems to just pattern itself out each time. We see again the same bottom that it made last time before firing up to +0.80

Clear divergence on daily MACD
Buyers found in this zone making multiple wicks
DXY finally top (resuming its downtrend)
Playing off those FIB extension perfectly

Here is my suggestion:

AUDUSD LONG:
ENTRY : 0.78654
SL : 0.78286
TP : 0.80506

Trade safe!

Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.

Comment

⋅ Oct 5, 2017 6:31 PM

SL TRIGGERED! OH NO! Small loss though! On to the next one.

Comments

Aqua_Trader

⋅ Oct 4, 2017 1:57 PM

agreed...brief upside

ScottMescudiForex

⋅ Oct 4, 2017 7:01 PM

@SN_Doumet, Nice chart! Thank you for sharing!

ScottMescudiForex

⋅ Oct 4, 2017 7:02 PM

@SN_Doumet, I forgot to add, I don't see USD pushing back hard against all majors at the moment as it is only retracing. This makes it hard to believe AU would fall back to 0.69

djmanosv

⋅ Oct 5, 2017 5:11 AM

Is TP still valid ? Thanks for your great ideas