AUDUSD looks very interesting for a huge short propelling to downside targets which are highlighted by the two blue lines on the charts.
The higher timeframes suggests we have formed a Head & Shoulders formation and a retracement to 6.18 Fib Level.
We have broken a key level 0.7050 and have came back to retest this level on the daily timeframe before I believe a impulsive move downside.
I will note that 0.6900 will be a level ill be watching carefully and may will lower lot sizes accordantly and bring my stop loss pass break even as ill be making an aggressive trade on this piece of analysis expect some reaction of this level.
I am looking to hold this trade until the downside targets are fulfilled as the Risk reward makes sense to enter this trade from all the confluences which are shown.
I am going to release setups via my trading view page and also Instagram @bobbiefellonefx
Have a good week all!
The higher timeframes suggests we have formed a Head & Shoulders formation and a retracement to 6.18 Fib Level.
We have broken a key level 0.7050 and have came back to retest this level on the daily timeframe before I believe a impulsive move downside.
I will note that 0.6900 will be a level ill be watching carefully and may will lower lot sizes accordantly and bring my stop loss pass break even as ill be making an aggressive trade on this piece of analysis expect some reaction of this level.
I am looking to hold this trade until the downside targets are fulfilled as the Risk reward makes sense to enter this trade from all the confluences which are shown.
I am going to release setups via my trading view page and also Instagram @bobbiefellonefx
Have a good week all!