FX:AUDUSD   Australian Dollar/U.S. Dollar
AUDUSD            
SIMPLE STRUCTURE READING
0.7556 is the best place to short aud
when it pulls back to the structure.
I have published many similar Ideas b4.
If you know how to trade this structure.
you are there to make profits.
Simple Step:
1.Find a structure which is violated.
2.Wait for price to come back and retest
3.Look for Price Action when you trade.

Comment: Please take note this is an Educational Study:

what I want to share is the STEPS to trade the pull back

and pls take note of the STEP 3:
Watch Price Action when you trade.
Comment:
snapshot
Comment:
snapshot

moves as what I expected.
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I see a 50% retracement long from brexit lows to highs. 7407 was front run by 7 pips. targets way above
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Is the trade active? It came down before hitting 0.76 again. Can we go short? Or still wait for 0.76 pullback? please advise
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Hi Tnt, what do you think about this pattern?
snapshot
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TntAlex TntAlex
Please advice.
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now going to test 0.7420 then 0.7250 since strong dollar is coming!
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Guys, there are 3 steps, NOT 2...
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Which 3 steps???
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haug01 PRO kamranibm
To help clarify these 3 steps, I also reviewed his NZDUSD post (https://www.tradingview.com/chart/NZDUSD/e4t1t6HD-NZDUSD-TOP-FORMED-What-s-next/) where the more typical pullback calculation is shown more clearly on the chart. This case here is different because he used a pin bar top to identify short sellers rather than the 0.6128 pullback calculation.

The steps are:
Step 1. Identify a broken trend. Jack can watch a stock/currency for months before identifying a new trade.

Step 2. Calculate/identify the pullback zone. In this case, Jack used a pin bar top to identify short sellers. More common is the 0.6128 pullback calculation. Identify lower (for shorting) bound of the short zone. Enter this value into your trading system to send you an alert when the price hits this level. These are 4 hour charts. It may take days or weeks for this to happen It may not happen. If it does, be ready to trade based on price action. Note in this and the NZDUSD, the predicted course of events was to form a head and shoulders pattern. For NZDUSD the price entered the short zone 9 days after the original post. The calculation of the pullback is always based on the 0.6182 ratio. Study the right side of the graph and practice this until you can do this on any broken chart.

Step 3. Trade based on the price action. When you have received the trade alert that your stock is entering the trading zone,
watch it for a while on a 1-5-15 minute trends and trade based on the price action. You need the stop loss above this short zone (or below a long trade) if it doesn't go as planned. You can also trade when it enters here with a stop loss.

Each idea is a probability about how to make the trade at the peak (or minimum) after a change in trend direction. If you get this right 65% of the time, you will do great. The other 35% you will never trade or will stop loss out of.
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I made an error in the above at the end of Step 2. The calculation of the pullback is not always based on the 0.6182 ratio. The case shows the pin bar method. The NZDUSD shows the 0.6812 method.
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CezaryS haug01
Thanks, for this explanation, It is easier to catch rules, but more difficult to use it by me :)
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