AUDUSD Short: The Wait is Over, Free Fall Ahead!

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hey Traders, it looks as though the correction is complete for this pair. If there is a new high, it will likely be very short lived and a re-entry will be the best option. I have my stop set tightly above highs with low targets around the .747 range. This drop could be swift and powerful, so strap yourself in and enjoy the ride.
Trade active: Breakout!!
Order Filled. Tight Stop. Enjoy
Trade closed: stop reached: The wedge has continued! Looking for better entry from top of NEW wedge:
Comment: Here's where the OPTIMAL entry was on this trade. There's a beautiful cross on two bullish trendlines that added huge resistance to the fifth leg. I missed this one unfortunately, but I entered shortly after with SL above highs. Here is a chart, updates to come:
Hi Glen, nice AU set up. Where's. your SL at on this trade?

Thanks for posting
Hanu, thank you. I have a SL placed at .7711. Cheers
-Andrew- PRO glennmercer
Great setup
Thanks Andrew, Cheers
Thank for sharing, I love and follow your analysis. I think it is still valid for short, you just stop it too early.
+1 Reply
Thanks EK! Short is absolutely still valid, I have entered a short at a higher price as shown in second comment. Cheers!
earthkamol glennmercer
Great ^^ Good luck for BEAR !!
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