Nico.Muselle
Short

AUDUSD - short with GAP serving as resistance

FX:AUDUSD   Australian Dollar/U.S. Dollar
3414 36 80
After the nice winner on a long on this pair, I'm now trading a short on the 3 drives pattern that was established and with the weekend gap serving as resistance on the upside.

I am looking for a retracement into previous highs as a primary target and the 61.8 fibonacci retracement as a secondary target.

The stop loss is defined by a 1:1 R:R for the primary target and the reasoning that when the weekend gap is closed the trade is invalid as this is one of the reasons for entry.
Trade active
Comment: For those who are in this trade, be aware that the RBA monetary statement is up for tonight and that tomorrow we have the NFP coming up. Protect your capital !
Comment: Moved SL to break even in anticipation of the RBA Monetary Policy Meeting ...
Comment: RBA Monetary Policy Meeting did not cause any damage so the trade is still open with stops at break even. I will keep it that way.
If targets are not reached before the NFP, I will close this trade before the news is released and take whatever pips the market has given me up to that moment.
Comment: Being in the live room I forgot to close the trade, luckily the market hardly reacted so I will keep the trade open and go look for those targets.
Comment: Target 1 reached, stops were already at break even
Trade closed: target reached: Ka-Ching, another 130 pips booked to the account. AUDUSD has been very nice to me in the last 2 day ... looking for the next setup now.
Bullish Channel on the 4 hour time frame, possible move up from the lows of the channel @ 0.7069 to the 61.8 fibo @ 0.7153 with possible extension to 0.7229
Long ( Short term)
Reply
i saw this and i was too chicken to take it.
Reply
Excellent.
Execution strategy: Double opportunity for AUDUSD
Reply
Awesome,! Crazy Man.
+1 Reply
Yep, it was really awesome, I fully agree !
Reply
this was amazing Nico, thanks
+1 Reply
Thanks for your support ! :)
Reply
TRIPLE THREE CORRECTION
very nice setup brother same thinking
+1 Reply
Thanks for your input ! :)
Reply
Thanks for the great analysis, as usual Nico! :)
+1 Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out