Updated
Dangerous Chart!
The 38,2 Fibo stopped the drawdown. From this Level a ountermove started - but that move was not sustaiable. We are again trading near the last low @ 0,55AUD.
Trading below that Level could initiate an ugly downwave, TP could be the EMA 90.
The chart brightens with Prices > 0,7 - there a procyclical trade could be opened.
Also thinkable is an anticyclical countertrade: Buying the Support with a sl near below 0,54AUD
My favourite trade would be Waiting for the Breakout: Stoppsell near below 0,54AUFD , SL ~ 0,6., TP1 0,47 TP 0,36
Trading below that Level could initiate an ugly downwave, TP could be the EMA 90.
The chart brightens with Prices > 0,7 - there a procyclical trade could be opened.
Also thinkable is an anticyclical countertrade: Buying the Support with a sl near below 0,54AUD
My favourite trade would be Waiting for the Breakout: Stoppsell near below 0,54AUFD , SL ~ 0,6., TP1 0,47 TP 0,36
Note
still fighting with the 38,2 fibo.Note
Downmove in full swingNote
Note
Trade closed manually
trading near my thought tp - nice!Note
It`s like magic, the max. fibo stopped the downwave and wde made a new "2" now it could climb up to 0,5aud, here is the min correction fibo for the countermove Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.