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AUDUSD Source based analysis M15price tells us all it knows about source. Look to short at completion of correction into continuation low immediate expectation is new structure high however expectation has severely weakened. price has spoken. watch how price approaches 8020 for signs of expectation failure, order flow will translate through price. medium term expectation of a break of 7986 structure and down to retest of lows. Price will tell us everything it can along every step of the way
by wigtrade
EURCAD Short (Order)Setup Timeframe: 4H Execution TImeframe: 4H Risk: 2.28% Reward: 7.3% Reasons for Entry: Pair is making lower lows, signaling the start of a downtrend after the rejection of the daily 61.8% bearish fib level. There is also an important zone around 1.43616 where price was a resistance, then broke and was a support, and now broke down through it again, should see it as a resistance zone again. Set the order around that level and the daily 50% fib and 4H 50% fib levels. Reasons for SL placement: Above the 61.8% fib, and above that resistance zone. Reasons for TP placement: Slightly above the -0.27 fib extension level.
Short
by MatthewLundgren
NZDUSD Short (Order)Setup Timeframe: 4H Execution Timeframe: 4H Risk: 2.25% Reward: 4.56% Reasons for Entry: Pair has been respecting the bearish TL, creating lower highs and lower lows, on the bigger picture, it rejected from a 50% bearish fib level. Set the order at the TL and 50% bearish fib level of the recent move down. Reasons for SL placement: Above the 78.6% level, and above recent swing high. If it came up this high, bias would be more of a bullish breakout. Reasons for TP placement: Good RR, if pattern is correct, pair should just continue down, even further down through the TP.
Short
by MatthewLundgren