AUDUSD: Short 300-600 pips Potential Next Down Move
Updated
Really simple, AUDUSD broke below 0.7690 with impulsive selling then found buyers at a trend-line support (0.7550), anticipating a pullback of price to return to the 0.7690/80 area before continuing lower. The first target 0.7550 200+ pips (prior swing low on the 240 chart). with 2nd target being 300+ pips.
Entry 1: Sell 0.7690/80 if price action retraces
Entry 2: Sell 0.7545 if/as price action breaks below.
Safe Trading...
TRADE FAMILIAR PRICE ACTION SETUPS, THIS CAN SAVE YOU A LOT IN THESE MARKETS.
Entry 1: Sell 0.7690/80 if price action retraces
Entry 2: Sell 0.7545 if/as price action breaks below.
Safe Trading...
TRADE FAMILIAR PRICE ACTION SETUPS, THIS CAN SAVE YOU A LOT IN THESE MARKETS.
Note
Already declined 460+ Pips from high of trade call and market is only 200 Pips from target...Let see what happens, if it will go or how long it will take.
Note
I think this was a decent short move which produced well more than anticipated, almost 2x total distance of forecast or almost 1:11 ROI.
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