AUD/USD SWING TRADE
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-AUD/USD rallied around 23% over the last 5 months (Apr-Aug)
- from Sep to Oct, this pair lost around 5% of its value before increasing this whole month nonstop (NOV) and the increase in value this month was due to the optimism concerning the vaccine and the risk-on sentiment in the market.
- this decline was a RETRACEMENT? Or we will see that the pair will start to decrease from its current level which is an important resistance area.
- I was tracking this pattern since Oct, and it reaches its top finally.
So what are the benefits of a SHORTING position from here: (green line as 1st target 61.8% , and purple the 2nd target.)
1- reached an important resistance area.
2- concerning the Gartley pattern (AB retraced 61.8% from XA)
(BC retraced almost a little more than 0.886)
(CD extended almost 1.618% of BC)
(CD retraced almost 0.786% of XA)
-AUD/USD rallied around 23% over the last 5 months (Apr-Aug)
- from Sep to Oct, this pair lost around 5% of its value before increasing this whole month nonstop (NOV) and the increase in value this month was due to the optimism concerning the vaccine and the risk-on sentiment in the market.
- this decline was a RETRACEMENT? Or we will see that the pair will start to decrease from its current level which is an important resistance area.
- I was tracking this pattern since Oct, and it reaches its top finally.
So what are the benefits of a SHORTING position from here: (green line as 1st target 61.8% , and purple the 2nd target.)
1- reached an important resistance area.
2- concerning the Gartley pattern (AB retraced 61.8% from XA)
(BC retraced almost a little more than 0.886)
(CD extended almost 1.618% of BC)
(CD retraced almost 0.786% of XA)
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