This is an update to my bigger picture short Idea: 
When I posted the above Idea, wave 4 correction was just starting.
As wave 4's often do, it consolidated and then formed a bear flag.
Today some bad econ news out of China started the final leg down.
The green zones are upcoming support areas to watch.
I will be taking some profit at each zone, and trailing a stop on the remaining position.
Trailing stop will be placed just above the last zone to be crossed in each case.
.
.
Background:
I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opps such as this plan:
After some good news about the US-China Trade War, I was expecting a significant move up:
As the above impulse wave up was ending, the top came into focus for shorts
My last plan was to let wave 4 retrace (up) take place and then try to catch wave 5 down
So the current Idea is to fine tune the targets for wave 5
When I posted the above Idea, wave 4 correction was just starting.
As wave 4's often do, it consolidated and then formed a bear flag.
Today some bad econ news out of China started the final leg down.
The green zones are upcoming support areas to watch.
I will be taking some profit at each zone, and trailing a stop on the remaining position.
Trailing stop will be placed just above the last zone to be crossed in each case.
.
.
Background:
I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opps such as this plan:
After some good news about the US-China Trade War, I was expecting a significant move up:
As the above impulse wave up was ending, the top came into focus for shorts
My last plan was to let wave 4 retrace (up) take place and then try to catch wave 5 down
So the current Idea is to fine tune the targets for wave 5
Note
AU almooooost touched my first zone The low was .71511, which makes sense
the Golden Ratio is my Religion
the Trading View is my Nation
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the Trading View is my Nation
the Moderator Tag is my Flag
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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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.