BigShouldersTrading

Potential long AUDUSD wave from highlighted level

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
Orange lines - daily wave, classic ABC continuation
Green/Red lines - h1 exhaustion trading levels for the daily C point
Magenta lines - m15 exhaustion trading levels for low time-frame reactions

Our h1 expected turning point is 0.7470.
We've kept on the chart the arrow for our continuation play that failed - just a reminder there's no 100% in trading.
If you follow us in the forex chat room here, we just took the m1 long reaction from 0.7501 to 0.7514 partial tp - that is not however the big one we're after.
We expect h1 signals to form after the 0.7470 test sometime in the next 24 hours. Our expected movement is to 0.7750 with target area 2 at 0.7900.
Comment: m15 selling pressure
Comment: management point short side
Comment: profit point short side
m15 extreme candle
"blind" long continuation position
Comment: profit point 2 short side
"blind" long continuation position 2
Comment: "blind" short continuation position 1
profit point for long continuation positions
Comment:
Comment: management short continuation - not a lot of movement but enough for m1 to validate the down reaction
Comment: 7573 short intermediate tp zone :)
Comment: m15 extreme candle
close short continuation position 1
Comment: m15 movement complete and into a short reaction
only a small fraction of larger tf long positions should be kept here
Comment: m15 short reaction validated into a risk free-trade
this 30 pip movement is not enough for tp given the RR requirements
short tp area starts around 7600
Comment: m15 short tp1 and potential long continuation (7595)
Comment: risk management and partial tp long continuation
Comment: Tight trailer (7655) into a double top extension (7672)
Comment: Continuation play done :)
There was an 8 pip loss yesterday on the 1st m1 attempt at this continuation
Comment: short side tp
reduced size, "blind" continuation pos (7635)
Comment: last "continuation" play of this move
weak m15
Comment: weak m15 long management

Comments

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