Roker1
Short

Patient! Be patient! (AUDUSD Short)

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hey guys,
i've been waiting for this setup to complete for two weeks now, and finally price has reached the level that i was waiting for, and in addition to that, it also gave us some nice shorting signal.
First, the yellow box represents a daily level of structure, this is a key factor in my strategy and it allows me to find reversal trades in smaller timeframes such as 4hr and 1hr; in this case in the 4hr you can see we're in overbought RSI condition, we're facing a strong psychological number along with some fibonacci ratios and we've put an engulfing candle that tells us bears could change the current 4hr trend.
In the overall picture in fact, we are in a downtrend, and that's why i think the second target could go very low, depending on the future market condition. As of now, i'm waiting for a pullback in order to short, with stops above the highs, target1 at roughly 1-1,25:1 RR, target2 to be determined.

If you have any questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Comment: Here's my reason for entry, targets and stops are different from usual patterns, but with my overall idea i think it can offers us a good level to short.
Trade active
Trade closed: target reached: First target hit! Stops to breakeven:
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw

Comments

I cant believe you could make this
+1 Reply
Roker1 phoe68
@phoe68, thanks mate!
Reply
phoe68 Roker1
@Roker1, will we see 0.739 area again?
+1 Reply
Roker1 phoe68
@phoe68, i don't know, i hope so.
Reply
phoe68 Roker1
@Roker1, why hoping so, cause waiting for long opportunity?
+1 Reply
Roker1 phoe68
@phoe68, i'm currently short so i'm hoping to see a downtrend continuation
Reply
Too weell
Reply
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