AUDUSD: Short 300-600 pips Potential Next Down Move
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.
Comment:
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.
Let see what happens, if it will go or how long it will take.