AUDUSD POSSIBLE LONG to SHORT
-WE HAVE HIT A MAJOR MONTHLY SUPPORT LEVEL HERE
-PROVIDING WE HOLD SUPPORT THIS COULD BE THE OUTCOME..
-THIS IS A GREAT RISK TO REWARD TRADE
-FOR A REVERSAL OR EVEN JUST A RETRACEMENT 0.618 AREA
-STOPS AS SHOWN
-THE POSSIBLE "C" AREA IS A KEY LEVEL OF RESISTANCE SO
WE EITHER BUMP OUT HEADS ON IT THEN INTO SHORT TRADE
OR BREAK THROUGH.
-IF WE HIT RES AND TURN AROUND....WE WILL BE LOOKING TO
MAKE THE ABC AND D
-TARGET FOR THE SHORT WILL BE WEEKLY SUP 0.6720
-BEAR IN MIND IF THIS SUPPORT DOESNT INTIALLY HOLD WE ARE GOING STRAIGHT INTO SELL MODE!!!!!
-PROVIDING WE HOLD SUPPORT THIS COULD BE THE OUTCOME..
-THIS IS A GREAT RISK TO REWARD TRADE
-FOR A REVERSAL OR EVEN JUST A RETRACEMENT 0.618 AREA
-STOPS AS SHOWN
-THE POSSIBLE "C" AREA IS A KEY LEVEL OF RESISTANCE SO
WE EITHER BUMP OUT HEADS ON IT THEN INTO SHORT TRADE
OR BREAK THROUGH.
-IF WE HIT RES AND TURN AROUND....WE WILL BE LOOKING TO
MAKE THE ABC AND D
-TARGET FOR THE SHORT WILL BE WEEKLY SUP 0.6720
-BEAR IN MIND IF THIS SUPPORT DOESNT INTIALLY HOLD WE ARE GOING STRAIGHT INTO SELL MODE!!!!!
Trade active
The support has been broken.....if we close below it will have to close the trade I'm afraidTrade closed: stop reached
Unfortunately we broke the support we could see some nice downside now.....lets look for bearish setupsTrade active
stopped out but re enter on solid bullish confirmation
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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.