AUDUSD WEEKLY RECAP LONG POSITIONS WERE WINNERS - BEARS TURN?
Hey traders,
Hope everyone is having a great weekend so far. This week AUDUSD was able to make a strong move up in price.
AUDUSD bounced strongly from the minor S/R labeled on my chart with news aiding the push up.
Now price has reached an inflection point. The blue trendline.
AUDUSD formed a bearish pinbar off the trendline, signalling that sellers are coming in.
Buyers from previous long positions were also taking profits.
Currently price has retraced to the 78.6 fib level.
I am still in this trade, with the risk to reward being 2, with the possibility of being much higher.
As long as we win this trade at least 33% of the time we secure profit.
IF price does close above the pin then I will wait and see what price does to confirm my next action.
Think about the big picture traders and not individual trades.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: www.instagram.com/jaylen.forex/
Website: www.forexshinobi.com
Tiktok: @forexshinobi
ForexShinobi
Hope everyone is having a great weekend so far. This week AUDUSD was able to make a strong move up in price.
AUDUSD bounced strongly from the minor S/R labeled on my chart with news aiding the push up.
Now price has reached an inflection point. The blue trendline.
AUDUSD formed a bearish pinbar off the trendline, signalling that sellers are coming in.
Buyers from previous long positions were also taking profits.
Currently price has retraced to the 78.6 fib level.
I am still in this trade, with the risk to reward being 2, with the possibility of being much higher.
As long as we win this trade at least 33% of the time we secure profit.
IF price does close above the pin then I will wait and see what price does to confirm my next action.
Think about the big picture traders and not individual trades.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: www.instagram.com/jaylen.forex/
Website: www.forexshinobi.com
Tiktok: @forexshinobi
ForexShinobi
