Target achieved. Bounce or previous low?
Hi Folks:
Target has been achieved but the question now is to decide for longs or remain with some short will a possible retest of previous lows (any of the two black lines).
I tend to respect the channel so I will go for some longs and double positions in two more stakes at the previous lows.
If the HS pattern shown plays its role it will continue further down so at this point I am reducing risks and measuring all these options to avoid unforeseen scenarios.
Cheer.
AUDUSD
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Target has been achieved but the question now is to decide for longs or remain with some short will a possible retest of previous lows (any of the two black lines).
I tend to respect the channel so I will go for some longs and double positions in two more stakes at the previous lows.
If the HS pattern shown plays its role it will continue further down so at this point I am reducing risks and measuring all these options to avoid unforeseen scenarios.
Cheer.
AUDUSD-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
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.