AUDUSD - 40 Pipper pre-breakout.

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             has headed up into a strong resistance on the 4 hours and also a key level on the daily chart which adds up to the strength of the level.
The double bottom launched a rally of about 150 pips with a nice risk to reward ratio, giving a chance for a small counter trend play before a possible breakout.

A short on the pair upon signs of any weakness is a very safe way to play it with stops just about a few pips above resistance, placing the target on the intermediate support which also lies on the 38.2% of the Fib Retracements giving a good 1:4 Risk-Reward ratio.

More aggressively, the pair can be shorted without any confirmation signals as the price action suggests a possible short term exhaustion in the run and also a double top . This exhaustion is a result of consistent impulse candles during the initial part of the move which is then followed by two large candles. Normally, large candles prior key role reversal levels, which follows a very consistently sized impulse candles shows an exhaustion in the move giving a short term breather for the pair before attempting a retest and a possible breakout of the role reversal level .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out