All of the technical analysis fundamentals are shouting short!!
Last week was a great week of trading, and I could bring in more than 650 pips, 450 only came from the EURJPY Bat pattern, thanks to BOJ rate decision, that I shared here on my page (I have it linked down here). However, I was doing my weekend analysis on my portfolio, and AUDUSD looks like a very nice trade for next week to consider. Now, I know the chart looks a little bit messy, but I'll explain. I think the relief rally for this pair is terminated, and we are about to go back to the underlying bearish trend of the market. We are back at the previous trend line and structure support which should turn to resistance now. Fib retracement, extension, and inversion, and ABCD harmonic completion all lining up at a same area. Looking at candle stick formation, the daily doji close on friday is another confirmation. Sounds more than enough, right?! Good luck!
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If anybody is in this trade, just to let you know as an update, I had opened 3 contracts, and I just closed my first for 83 pips.
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Stopped out for other portion of contract on a protective S/L. 83 pips of profit conserved!
