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UnknownUnicorn1541297

AUDUSD Short

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
UnknownUnicorn1541297 Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis
2
1
trendanalysis
Hit support on 4H trendline. Had a bullish range to fill on 15M and a bullish flag on 5M. After breakout, momentum took price to supply zone. Tested and bounced.
Comment:
Retest of supply zone. Tested trendline's resistance also, small pull back but excellent play overall. Lets see what we have going on. TP1 right before this demand zone. TP2 right before the next demand zone (still within trend - if continues, both TP will be hit.)

Also -- we have a high impact news (Trade Balancing Reports) coming from AUD this evening at 9:30 PM EST. The last 5 months, the forecast has been less than the actual, which is good for the currency, and bad for this trade.

I do not recommend holding any actual live trades through news of this impact, and also I am not a financial advisor.
Comment:
TP1 hit after a bullish pullback before the drop. Pullback was likely due to anticipation of news, which didn't make the cut. Bears are taking us down to our next TP at .7379 while respecting the now established (on the 3rd test) downtrend.

At this point SL would be moved to break even.
Comment:
TP2 hit. Mission successful.
Trade closed: target reached
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