Short Position on AUDUSD 4hHello Traders!
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Audusdsetup
Sell: 0.7114
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AUDUSD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of AUDUSD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 41 - 05 Oct
M > Price faced rejection at monthly resistance and has dropped since then. We saw W formation and expected price to drop till the neck which price did and completed the formation.
W > We saw M formation now and price moved up to complete formation.
D > Price has tested neck of M and has shown loss of momentum and reversal color candle. We can see bottom wick and expect price to drop till weekly demand zone.
As per COT AUD saw closure of major Long and addition of few Short positions, reducing net positions, N-R saw closure of both Long and Short positions and Commercials saw addition of Long and closure of Short. AXY was weak for the said week however it improved its position last week.
4H> Price has broken the trend with break of last LH and creating of LL, we expect price to drop till weekly demand zone.
Pair Correlation > AUDUSD has positive correlation with AUDJPY, AUDCHF, NZDJPY, NZDUSD, AUDCAD and EURUSD and negative correlation with USDCAD and EURAUD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions.
Thank You
AP17FX
AUDUSD ShortAUDUSD has been trading around a key level of resistance and support. Ill be looking for a few possible entries, The formation of a head and shoulder creating a triple top formation for a short entry. A third tap on the top trend line. Or a bear flag continuation. We will see how this pair reacts this week
AUD/USD shortAUDUSD has been trading around a key level of support and resistance. I see a possible slight head and shoulder formation forming a triple top. Will be seeing how this pair reacts this week if it gets to that ray line correctively, ill be taking a short. If it impulses down creating a bear flag formation will be taking a short position. These are the two moves ill be looking for. Maybe with a possibility of a third trend line tap for a third entry possibility. Will be watching this throughout the week.
AUD/USD Technical Analysis.Currently, AUD/USD is trading 0.6903. The pair is consolidating in the resistance and support levels. Previously, the pair was trading in a down trend and after touching support level, it started consolidating in the resistance and support levels. If the price breaks the resistance level at 0.6975, then it may start a new up trend and its target price will be at 0.7202. If the price breaks the support level at 0.6785, then it may start a new down trend and its target price will be at 0.6561.
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Rishikesh Lilawat
AUDUSD shortThis is just an updated chart from my previous chart posted last week, will be looking for a bear flag continuation towards the downside, if you missed the move last week and looking to get into this trade ill be scaling in another position depending on how the market moves. Will be looking for either a 2 tap or 3 tap of the top of the trend line for a downward move.
AUDUSD shortThere is a potential short set up for the AUDUSD pair, will be looking for it as a short term sale, but if the downward trend continues I will be letting the trade run till the next monthly key support. I will only be going in on this trade if it corrective goes up to the given area, If it goes up impulsively I will not take the trade but will sit back and watch what the market is doing, re-forecast and look for a high probability set up