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Wednesday, November 16, 2016

AUDUSD SELL SETUP

Hello fellow traders, I am back after vacation.
Here I am with a perfect setup forming on daily chart and weekly chart of AUDUSD as well. My charts are self explanatory. In this chart as you can see that AUDUSD has broken weekly trend and now the fall may be deep.
Here I am looking for a target on the downside till .6827 but we can have some problems near .7151 levels. 


On daily chart the price has already closed below trendline support.

If we sell here at the time of posting this the price is .7470 with a stop above .7580 and target .6830 we have a risk to reward ratio which compells to take this trade but since chart is weekly so one has to wait long time for targets to be achieved and there is support near .7151 levels. So one may keep .7151 as first target and .6827 as the second target.

Let us see how it goes till then.


Happy Trading to all.

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