AUDUSD sell opportunity

FX:AUDUSD   Australian Dollar / U.S. Dollar
Price has been slowly creeping up for the past few days. You can see that price rejected upside on long term trendline that goes back to 8 September 2017. Blue rectangle area is also a strong resistance zone (0.7864-0.7889). You can enter short with a stop above blue rectangle area with a good risk to reward of at least 1:3.
Comment: I would personally enter short when it breaks the rising trendline on H1
Trade active: Trade has been active upon break of rising trendline. Did not have time to update here.
Comment: Price has retested descending yellow trendline connecting highs from 8/9/17 and 20/9/17 and bounced off it. More reasons to believe this will head down.
Comment: Trade is still active. Price has spiked up due to China voicing out concerns on U.S. Treasuries but once again failed to close above the descending yellow trendline. It seems to test it yet again. If it closes above, I'll close my position on this pair and wait for the next set-up given. If it rejects, I might add more positions to the current ones.
Comment: Maybe AUD Retail Sales will give us a CLEAR direction on this pair in 9.5 hours time..
Trade closed manually
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out