AUDUSD shorting opportunity after Retrace? AU short

Looking to enter short after retrace, for a 2-3 day trade.
Identified a zone based on Fib Confluence, and a logical area for the retrace to end and downtrend to resume.

The live chart above shows the .618 Fib retracement of last leg down on 1h chart.
It also shows a red 2.618 Fib Extension of impulse move down on 4h chart shown here:

The grey Fib Zones shown in main chart come from my Support/Resistance forecast:

The short entry I am looking for is based on my larger TF finding of a wedge that looks to be breaking down:

So I am hoping to catch a short, get SL to Break Even, then see if it can be ridden downward, maybe to 0.5850 :)

コメント:

Hmm, starting to wonder if AU can make it past this fib zone.
I need it to break well above for my planned short.

コメント:

As mentioned in last update, that zone in the .7480 range knocked price down.
But it has since bounced on a lower and very strong zone and looks to be ready for retest of .7480
So now I will be watching it re-approach the .7480 zone.

トレード稼働中:

Initial 10% of the trade size placed as short.
Trump's Tweet about more China tariffs caused the smack down

コメント:

Added another 10% of my short position, 20% in now.
Retest of Fib zone and apparent rejection.

トレード稼働中:

Just added another 5% of allotted capital to my short.
So now I am 25% in (of 10% of my account to AUD allotment)

トレード稼働中:

Here we are, moment of truth for any remaining AU bulls
s3.amazonaws.com/tra...shots/o/oOiUu6TZ.png

コメント:

AU continues to drop from one Fib Zone to the next one.
0.7350 looks to be the next strong support. Might take some profits soon.