AUDUSD Potential Sell Setup Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Dec 8, 2021 7:01 PM

Price has reached the 38.2 retracement level, which is a key level.

If price finds resistance here, we could see a move to the downside to complete the current fib sequence.

If it breaks above, we could see it travel to the 61.8 D extension before making a move to the downside.

Comments

Leo-btm

⋅ Dec 20, 2021 9:42 PM

valid analysis, thanks for sharing

JustTradeSignals

⋅ Dec 20, 2021 5:09 PM

seems bull taking control now :-)

Vinodbhati

⋅ Dec 9, 2021 3:18 AM

Daily Breakout.. AUDUSD.. I'm Finding Long Oppertunity.. Just wating for Pullback

justagirllearningtotrade

⋅ Dec 9, 2021 3:55 AM

@Vinodbhati, Hey. I could definitely see more buying opportunities as I have illustrated on the chart. However, price is sitting at a key level of the down move on the higher timeframe. The D extension on the weekly and daily have not yet been hit. Further, price on the weekly had a shallow retracement and stalled out. Typically when we see this happen, price will retrace and continue the move to hit the extension. It will be interesting to see how this plays out.

UnknownUnicorn18552923

⋅ Dec 8, 2021 9:07 PM

Great stuff, I would place the first take profit on the support zone, just to keep some profit, don’t you agree ? 😊

justagirllearningtotrade

⋅ Dec 8, 2021 9:23 PM

@Digital-InveSpec, Hey thanks. One could, but I trade Fibonacci and matching extensions. What I have noted above is the matching extension. I will manage the trade by lowering SL into profit as price progresses.

UnknownUnicorn18552923

⋅ Dec 8, 2021 10:10 PM

@justagirllearningtotrade definitely, I’m waiting for a short price action too, so seems we are on the same boat ! Good luck :)