Nico.Muselle
Short

AUDUSD - short with GAP serving as resistance

FX:AUDUSD   Australian Dollar/U.S. Dollar
3410 36 79
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.
Thanks Nico. :)
+1 Reply
You're welcome ! :) Hope it helps !
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I'm in, will def. keep an eye out for the NFP tonight.
+1 Reply
Good stuff, I will do the same :)
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Forex-De-Lis PRO Nico.Muselle
Nice, 134 pip winner on my end.
+1 Reply
Awesome !
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It's a bit hard to read your charts with these different colors and the patterns covering the candles :(
+1 Reply
arif_awan Nico.Muselle
you mean candles are hidden?
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Yes ... I don't see where your candles are behind your coloured patterns. Makes it a bit difficult to read the charts :)
The Gartley is not a valid one for me as the BC leg is not a 61.8% retracement of AB ... but if you have different rules and they work for you, good luck ! :)
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arif_awan Nico.Muselle
hover over the candles, can see them, but I will move them in the front, in my future ideas, thanks for pointing out.
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Class technicals Good luck mate
+1 Reply
Thank you !
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nice i have same views..

snapshot
+2 Reply
Good stuff ! Let's see what the NFP has in store ...
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Great ! Thx :)
+1 Reply
Thanks for your comment, you're welcome !
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Nicely done
+1 Reply
Thanks Akil, means a lot coming from you :)
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what is your rate of return

+1 Reply
Nico.Muselle MOD shairafzalkhan
For this trade, target 1 was a 1:1 Risk:Reward ratio as described above. Hope that answers your question.
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I have my pending short at 0.727, a nice Fib confluence level.
+1 Reply
sorry you did not get filled ... But always better than a loss :)
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Csys Nico.Muselle
Yup I missed this swing, hoping best for the next one : )
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Keep looking out for them ... Together we're strong :)
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Thanks for the great analysis, as usual Nico! :)
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And thank you for your support Kate ! :)
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TRIPLE THREE CORRECTION
very nice setup brother same thinking
+1 Reply
Thanks for your input ! :)
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this was amazing Nico, thanks
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Thanks for your support ! :)
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Awesome,! Crazy Man.
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Yep, it was really awesome, I fully agree !
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Excellent.
Execution strategy: Double opportunity for AUDUSD
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i saw this and i was too chicken to take it.
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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)
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