AUDUSD - Short on Shark pattern pullback
Updated
Had a great ride on AUDUSD last week, pocketing over 200 pips. (See related idea).
Post NFP, I see the sellers still dominant in the H4 timeframe.
We could see a shark pattern playing out where I will look to short around the PRZ level of 0.7960.
I hope to see some form of extreme volume exhaustion move before this PRZ level before executing my short.
Any longs on Monday open is pretty good in terms of risk to reward, but I will choose to long EURUSD instead of this.
EP: 0.7960
SL: 0.8010 (50)
TP: 0.7630 (330)
Post NFP, I see the sellers still dominant in the H4 timeframe.
We could see a shark pattern playing out where I will look to short around the PRZ level of 0.7960.
I hope to see some form of extreme volume exhaustion move before this PRZ level before executing my short.
Any longs on Monday open is pretty good in terms of risk to reward, but I will choose to long EURUSD instead of this.
EP: 0.7960
SL: 0.8010 (50)
TP: 0.7630 (330)
Note
This is a potential C-D leg move on the Aussie.
This breakout is with increasing vol.
If the candle closes strong, I will enter long targeting 0.7960.
Note
The long yesterday at 0.7782 failed to follow through.closing at 5 pips loss first.
Shifting my attention to this shark pattern that could happen after FOMC tonight.
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.