AUD/USD
I'm looking at getting in short on this pair. First entry area is at resistance .78620 depending on the price action. If price breaks this level with an impulsive move the next resistance will be around the 79200 level. If it makes a nother strong break my final resistance will e between .80000 & .80240. After this point I will be looking at a Bullish reversal.
Watch AUDUSD H4 (20 Min)
1. Support was broken @0.80467
2. Will try to re-test last high
3. 10 SMA, 50 SMA and 200 SMA are lagging behind and are close to the last high
4. 0.618 fib level is right at the place where last high was making it a good place to short
5. Stop @ 0.81758
6. First Target @ 0.79255
7. Second Target tail as it is reaching weekly support area...
my position was 3 lots on short 0.8250
1 lot was closed by take profit 8200
2 lot was closed by TP 8160
3 lot in position
my opinion will be breakout support area with target 8100
Simple support turned into resistance.
Re-entry into trend. Look for D1 opportunity to sell into trend. watch the 0.81 - 0.82 level, depending on how the D1 closes. Do not rush to sell.
I personally have a sell limit at 0.82.
Look for bearish pin bars/rejection pattern around the 0.81-0.82 level.
Apologies for repeating this post my chart didn't come out properly but still the same analyses on AUD/USD 4HR
Monthly support broken now historically finding a previous floor with 2 targets in mind. First is the daily fib 3.618 retracement 2nd the next level down which is also the length added from its average range and confluence with a monthly support. Lower...
Been in and out this long term trade over the last couple of weeks and looking for another possibly on the descending trendline. I believe there is still a lot more dropping to do after a top down analyse from the monthly to the 4hr . With lower lows and highs still in play and recently a monthly support now broken im targeting the next fib and monthly support...
