AUDUSD : 2 OPTIONS TO SHORT IT
The FIBO 0.786 is tested few times and is not broken. If the price can break the support 0.75411 we can sell upon the retest after it is broken.
The second option is that we could sell at level 0.76300-0.76474 where there is AB=CD pattern, and previous high.
TRADE IDEA 1 :
SELL AFTER THE RETEST WHEN 0.75411 IS BROKEN
SL : ABOVE THE REVERSAL POINT OR 0.75870
TP 1 : 0.74229
TP 2 : 0.73314
TRADE IDEA 2 :
SELL AT BETWEEN 0.76300-0.76474
SL : 0.76650 (IF THIS LEVEL IS BROKEN STRONGLY)
TP 1 : 0.75411
TP 2 : 0.74229
TP 3 : 0.73314
The second option is that we could sell at level 0.76300-0.76474 where there is AB=CD pattern, and previous high.
TRADE IDEA 1 :
SELL AFTER THE RETEST WHEN 0.75411 IS BROKEN
SL : ABOVE THE REVERSAL POINT OR 0.75870
TP 1 : 0.74229
TP 2 : 0.73314
TRADE IDEA 2 :
SELL AT BETWEEN 0.76300-0.76474
SL : 0.76650 (IF THIS LEVEL IS BROKEN STRONGLY)
TP 1 : 0.75411
TP 2 : 0.74229
TP 3 : 0.73314
Trade active
Trade idea 2 active, but ready to SL because the medium term trend is uptrendNote
1600 PIPS in hand, can close half position and continue to hold another half position
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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.