PriceActionTrading
Short

AUDUSD SHORT AT 20 AND 50SMA D1 50% FIB

FX:AUDUSD   Australian Dollar/U.S. Dollar
214 9 13
BASIS FOR SHORTING THIS TRADE

PIN BAR FORMED AT
0.7700 RESISTANCE
D1 20SMA AND 50SMA
H4 200SMA
50% FIB
PRICE HAS FAILED TO CLOSE ABOVE 0.7700 3 TIMES ON THE D1
SLIGHT BEARISH DIVERGENCE ON THE H4

HOWEVER, THE ONLY OFF THING ABOUT THIS TRADE IS THAT THE RISK REWARD CURRENTLY IS NOT FAVOURABLE. THUS, I MAY KEEP MY HANDS OUT OF THIS TRADE.

H4 CHART
snapshot

SUBSCRIBE LIKE COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
HAPPY PIPPING.
LOVELY CLEAN CHARTS. VERY HELPFUL, THANK YOU.
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Yes i do love a clean chart. Thank you.
Reply
Also, i am looking at a probable BUY at 0.7520. Inside bar formed at W1.
Based on my experience, price will usually fake the downside of the inside bar before going contrary to what most people have done (which is sell at the break of the inside).
All this is probable and require confirmation.
However, if you manage to catch a BUY at 0.7520. the reward can be so ... rewarding...
snapshot


Subscribe like comment my ideas if you agree or disagree.
It motivates me to continuously post ideas i find profitable.
+1 Reply
moneymaking PriceActionTrading
Thanks for sharing and Good luck :)
Reply
The buy is probable, take note.
I am still holding to half my sell.
So yea, i'm neutral at 0.752.
Good luck mate.
+1 Reply
moneymaking PriceActionTrading
Thank you =)
Reply
A pity we didnt catch a buy at 0.7520. The buy went without us at 0.7550.
Reply
Price reached new low as expected. Recommend closing half and stop at BE.
Lets not be greedy shall we.
Will post possible re entry for short when opportunity arises.
Do note if price manages to close above 0.76 on the D1, a fakey could happen and price "could" spring upwards. just a "could"
+1 Reply
Hey priceaction, first of all really nice name because I love price action, lol ;)
I'll keep an eye on this as well, I believe a close below 0.75322 would give you a solid conformation on bearish trend continuation. Thanks for sharing and Good Luck !!
+1 Reply
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