AUDUSD - Possible Fakeout Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Nov 5, 2018 8:45 PM

Why I'm NOT BUYING just YET:

- So far this is not a BREAKOUT
- Wait for a Higher High / RS Flip
- The first attempt to breakout was rejected with long wick

Looks like a fakeout so far...

If you are SHORT:
- Stop above the last high
- Around ~ 0.726

Possible lower targets lined out below...

Comments

permban

⋅ Nov 5, 2018 9:10 PM

It's good to wait because speculators are playing with it and your stop loss order might be hit. Also, there will be plenty of time to gain from it once it is going.

dulskilla

⋅ Nov 6, 2018 12:19 AM

@nickreason, yeah exactly!