Audusdsetup
AUDUSD Strategic View: Testing major resistance, time to sellSell below 0.7550. Stop loss at 0.7620. Take profit at 0.7370.
Reason for the trading strategy:
Price is now reacting off major resistance at 0.7550 (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) and we expect to see a strong reaction off this level for a drop to at least 0.7370 support (Fibonacci extension, horizontal swing low support).
RSI (34) is seeing major resistance at 95% where we expect a strong drop from.
AUDUSD reacting off major resistance, time to start sellingSell below 0.7548. Stop loss at 0.7573. Take profit at 0.7472.
Reason for the trading strategy (technically):
Price is now reacting off major resistance at 0.7548 (horizontal swing high resistance, Fibonacci extension) and we expect a strong drop from this level to at least 0.7472 (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing strong resistance below our 95% level where we expect a further drop from.
Correlation analysis: Overall AUD weakness expected today with a drop on AUDUSD and AUDJPY.
AUDUSDs3.amazonaws.com
My long term outlook on the Aussie.
Clean Elliot Wave impulse down from Oct 2014.
Bullish consolidation will probably run until mid year or longer.
78.6 retrace @.75 could be a good enter for a long position.
Audusd short opprotunity Sell at 0.7684 and if go above then also sell from that level and first tp is 0.7600 to 0.7520
AUDUSD I start looking for CAnd here is one more
wavers way to look at current AUDUSD
( maybe some strict elliotwavers should have some questions )
I suppose, that many "advanced pattern wavers"
will try to short "Gartley level .786"
so why not try to catch with them C wave from the top ?
I'll personally try with very tight stop loss ( around 0.7606 )
it is a risky trade but we are in a risky busiiness, no ?
:)
be aware AUDUSD mooves very fast
Do not miss this trade
still short AUDUSD @ 1h @ trading capability this 52nd week `16This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
AUDUSD - FOLLOWING THE PATTERN.Hello Everyone. AUDUSD is now following the pattern but as you all knows that We cant take any action until the pattern completes. So we really need to wait until it will come to the blue zone to buy thanks
AUDUSD: 1D RSI Overbought+divergence+pattern+structure =SELL YOUR LIKE MATTERS : Give it a like if this has helped you in any way , follow for more ideas and daily updates.
sorry for late post, some mod banned me for 3 days, i am already in this trade
