tntsunrise

AUDUSD RANGE BOUND ANALYSIS

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
1509 views
46
Look for Buyer Failure at 0.7242 level
this is 0.618 and also the 300% range bound
RSI over bought
Buyer tried once already
Get Ready to short!
Comment: First Target 0.7160 hit, Enter at the 2nd pin
Trade closed: target reached: Trade closed with 1st target hit, the rest exit at break even
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Comments

I am thinking this pair will .7115 area with one more wave down, before the next move up my target being the .7300 area.
+1 Reply
tntsunrise ElliottWaveFxMajors
agree. one more wave
+1 Reply
how does this one match with your other call for AU - which is LONG? :)
+1 Reply
Haha! Good point!
Tntsurise, we are waiting answer! :)
+1 Reply
tntsunrise Elliott_Wave_Count
:)
Reply
tntsunrise Elliott_Wave_Count
see whether can tp the long position or not
Reply
YuzukiChan mcpeacocks
The downward trendline hasn't been broken. So it's best to assume that the downtrend is still continuing. The buy-stop is placed wisely there. So I believe the two ideas don't contradict.
+1 Reply
tntsunrise YuzukiChan
Thank you Yuzuki! Nice understanding!
Reply
whisally YuzukiChan
The downward trendline hasn't been broken? Could you post a chart to show which downward trendline? thanks a lot!
Reply
By “Enter at the 2nd pin” you mean wait for price hitting 0.7160 again, if seller try twice but fail to beak 7160, then buyer can long at that level?
Reply
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