AUDUSD potential reverse
Updated
Ideally I want to wait till price come 0.5% Fib level, but today I think AU will close very big tailed PinBar.
Whit this in mind I take very small Short position.
0.6006 area is Oct '08 support and multi-year low.
Also price touch 10-EMA and almost 38.2% Fib.
This is not perfect setup, like I said, I want to see the pair is come little more upside.
Whit this in mind I take very small Short position.
0.6006 area is Oct '08 support and multi-year low.
Also price touch 10-EMA and almost 38.2% Fib.
This is not perfect setup, like I said, I want to see the pair is come little more upside.
Note
When price is reach 50% fibo, then i dont find any reason to take sell position. Maybe trend is reversed or i must wait 61,8% fibo. I wait and look what price doing that level. Also i dont see any BUY options.
Note
Little update.Now the pair is touching 61,8% FIBO and when you open RSI, then you see divergence. These two are not enough reasons to take a trade, but when I see very good bearish price action, then I think open a Short position.
The other way, when the price breaks above 6450 area, then I cancel idea.
Order cancelled
Next idea
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