Technical analysis on AUDUSD.

AUDUSD - Daily

Market (21 above 55) is flat. Price (5 above 8) is bullish. Stochastic is moving up. Price is in the top of the range MM3/0.77 and I will look to sell this pair at this level. Support is at MM1/0.750. Also be aware of MM4, Bulls will try and push price up to that level as it is their monthly profit zone.

AUDUSD - H4

Market (21 above 55) is flat. Price (5 above 8) is bullish. Stochastic is overbought. Price is at WR2/0.77/MM3 resistance level and in the weekly bulls profit zone. I will look H1 chart for a more precise entry.

AUDUSD - H1

Market (21 above 55) is bullish but it looks like momentum is slowing down. Price (8 above 5) is converging. Stochastic is moving down. I am waiting for price to either find resistance at WR2/0.77/MM3 or at DM3 before I sell this pair. I will also look at my M5 chart for lower lows and lower highs before pulling the trigger.

One thought on “AUDUSD – Sell Entry Trade Plan (16 March 2017)”

  1. Ryan Gandalf van Jaarsveld says:

    Outstanding!! Love the fact that you stood by your bias and I like the way you explained the setup and that you waited for confirmation of weakness before selling the second chance. Would love to see your entry as discussed!! Great job!!

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