Hi traders!
As I'm looking at this chart, it's telling me that AUDUSD as somehow topped when it traded to 0.80 and now is looking for some retracement before knowing the real deal.
MACD already crossed and RSI seem to have maxed out. RR is our favor here since we are shorting a TOP.
AUD/USD SHORT
ENTRY : 0.79307
SL : 0.80042
TP : 0.76887
Trade safe!
Entry: Sell at 50% Retracement of Daily Bearish Pinbar after Reversal at Weekly Level
TP: Weekly EMA20
Trailing: Close Trade if Daily Close below Daily EMA 5
Notes:
Trade opened 08.08.2017.
No trading advice, this is a trading log.
Buy above 0.7854. Stop loss at 0.7834. Take profit at 0.7897.
Reason for the trading strategy (technically):
Price has dropped perfectly towards our profit target and is fast approaching it. We prepare to buy above major support at 0.7854 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7897 resistance (Fibonacci retracement,...
Sell below 0.7894. Stop loss at 0.7921. Take profit at 0.7854.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We remain bearish looking to sell below 0.7894 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7854 support (Fibonacci extension,...
Timeframe: 4H
This pair broke down through previous support, which confirms it for a bearish movement. Entered in the short on a C leg retracement which aligned with a bearish fib and a BRC of the broken support turned resistance.
Sell below 0.7931. Stop loss at 0.7950. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price has dropped perfectly form our selling area yesterday. We remain bearish looking to sell on strength below 0.7931 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 0.7875 support (Fibonacci extension,...
A nice minor WW was formed at m15 time frame.
It is being supported by both RSI divergence and significant volume rise at point 5 (unfortunately, can see this only on my platform, not at Oanda).
Entered shorts now at 0.79269 SL 0.79960 and then will be placed behind the local* peak.
Gl All!
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
A break above 0.79200 gives the opportunity to buy AUDUSD up to the Bearish Gartley completion zone at 0.79600.
Set an alarm and wait for price to come to you.
Sell below 0.7931. Stop loss at 0.7950. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price has dropped perfectly form our selling area yesterday. We remain bearish looking to sell on strength below 0.7931 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 0.7875 support (Fibonacci extension,...
Aussie buoyed on robust Australia July AIG construction index data which rose to 60.5 from 56.0 in the previous month.
AUD/USD was up in the green after 4 successive sessions of downside, but was rejected at highs.
We see strong support at 0.79 levels (nearly converged 20-DMA and 23.6% Fib retrace of 0.7372 to 0.8065 rally).
Break below 0.79 could see drag lower....
Sell below 0.7942. Stop loss at 0.7981. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price has dropped nicely from our previous call on Friday. We remain bearish looking to sell on strength below 0.7942 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 0.7875 support (Fibonacci extension,...
Sell below 0.7962. Stop loss at 0.7995. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7962 (Fibonacci retracement, Fibonacci extension) and we expect to see a drop from here towards 0.7875 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a descending resistance line...
