MEX_Exchange
Short

AUDUSD remain bearish whilst protecting our profits

FX:AUDUSD   Australian Dollar / U.S. Dollar
Sell below 0.7829. Stop loss at 0.7864. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has continued to drop perfectly towards our profit target. We remain bearish looking to sell below 0.7829 resistance ( Fibonacci retracement , horizontal overlap resistance) for a further push down to at least 0.7738 support ( Fibonacci extension , horizontal swing low support). It is important to note that we expect a strong acceleration to the downside once we break our descending channel on price and RSI .
RSI (34) sees a nice descending channel signalling that we’re still in a bearish configuration.
Comment: Aren't we kicking ass? :P

Comments

Thank you !
Reply
@POE369, glad to help buddy :P
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Are you confident it will go in this direction?
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MEX_Exchange yucijesuf
@yucijesuf, yeah fairly!
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everyone we should thank MEX_Exchange more for all the work he has been doing...
Reply
@cexequ, Haha your words are too kind :P
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thanks... you are good.
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MEX_Exchange yiyecerudq
@yiyecerudq, I'm only good until I'm bad I guess haha!
Reply
This is a really good idea... thank you thank you.
Reply
Thanks for the analysis good sir!
Reply
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