For my bigger picture view on this pair see below:
I just want to share an intra-day sell opportunity that will be a correction of the impulse of higher degree.
Trade with care and use a trade plan. However I favor another leg lower towards at least 1.11 before the bullish move might continue.
timstuyts.com
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I just want to share an intra-day sell opportunity that will be a correction of the impulse of higher degree.
Trade with care and use a trade plan. However I favor another leg lower towards at least 1.11 before the bullish move might continue.
timstuyts.com
facebook/timstuyts
Note
consolidation is not yet over, wait for the bearish break for a possible short. The Aussie seems ready for a correction across the market, AUDUSD, EURAUD, AUDCHF, AUDCAD, AUDJPY are looking similar so pick the one you like best. I updated this pair since I'm following it long term.Note
I'm trading the Aussie pairs today because they look very nice for the bearish move I anticipated. (I'll update AU later on as well.) However AUDNZD retraced slightly deeper than expected so I had to re-enter. I shorted AUDNZD based on 15min bearish continuation and I'll now be looking for more or less the same kind of break on the 1hr time frame for another short position. If I enter a second position my first position has to be at least at break even for risk management purposes.Trade active
AUDNZD is lagging compared to the other Aussie pairs which already broke lower yesterday, I expect the correction lower today. My first entry is at break even.Note
AUDNZD was trailing higher for what I count as an expanded flat correction.This stopped me out three times at break even before I moved on to other set-ups and was fed up with this pair. This was unfortunate because the retrace happened, only slightly later but the structure was great for a sell. Now I'll see whether we will get at least one more bearish leg for a possible sell trade. So far the structure looks corrective and I'm therefore only looking for sell trades.
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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.