AUDUSD shorting opportunity after Retrace? AU short

10 juil. 2018

Looking to enter short after retrace, for a 2-3 day trade.
Identified a zone based on Fib Confluence, and a logical area for the retrace to end and downtrend to resume.

The live chart above shows the .618 Fib retracement of last leg down on 1h chart.
It also shows a red 2.618 Fib Extension of impulse move down on 4h chart shown here:


The grey Fib Zones shown in main chart come from my Support/Resistance forecast:

The short entry I am looking for is based on my larger TF finding of a wedge that looks to be breaking down:

So I am hoping to catch a short, get SL to Break Even, then see if it can be ridden downward, maybe to 0.5850 :)

10 juil. 2018

Note

Hmm, starting to wonder if AU can make it past this fib zone.
I need it to break well above for my planned short.

10 juil. 2018

Note

As mentioned in last update, that zone in the .7480 range knocked price down.
But it has since bounced on a lower and very strong zone and looks to be ready for retest of .7480
So now I will be watching it re-approach the .7480 zone.

10 juil. 2018

Transaction en cours

Initial 10% of the trade size placed as short.
Trump's Tweet about more China tariffs caused the smack down

11 juil. 2018

Note

Added another 10% of my short position, 20% in now.
Retest of Fib zone and apparent rejection.

11 juil. 2018

Transaction en cours

Just added another 5% of allotted capital to my short.
So now I am 25% in (of 10% of my account to AUD allotment)

11 juil. 2018

Transaction en cours

Here we are, moment of truth for any remaining AU bulls
s3.amazonaws.com/tradingview/snapshots/o/oOiUu6TZ.png

12 juil. 2018

Note

AU continues to drop from one Fib Zone to the next one.
0.7350 looks to be the next strong support. Might take some profits soon.