$audusd : heading for parity
Planning on publishing charts more often.. instead of just on twitter.
As the aussie moved up strong into the beginning of November, it started to range higher before heading up and peaking just under .74, double-topping around .73935.
After it formed the double top on 3/12/18, it harshly sold off, bouncing off the range at .72xxx a few times before plunging through.
Currently, this six-hour period is sitting right under that very same range after a failed resistance test coming off a sharp sell-off.
I believe that the chart has confirmed that we'll be heading back down to the original range right above parity, or at least has provided a decent enough setup for me to risk capital on.
I'm short here from .71875, 500x.
Stop at .72088 for a low risk trade.
6.34 R/R.
As the aussie moved up strong into the beginning of November, it started to range higher before heading up and peaking just under .74, double-topping around .73935.
After it formed the double top on 3/12/18, it harshly sold off, bouncing off the range at .72xxx a few times before plunging through.
Currently, this six-hour period is sitting right under that very same range after a failed resistance test coming off a sharp sell-off.
I believe that the chart has confirmed that we'll be heading back down to the original range right above parity, or at least has provided a decent enough setup for me to risk capital on.
I'm short here from .71875, 500x.
Stop at .72088 for a low risk trade.
6.34 R/R.
Komen:
stopped out on the setup, may still play out
Komen:
Second time was the charm it appears, even got denied before my stop level on second try :)