AUDUSD short Idea: AU to retrace but how deep?

18 de nov. de 2018

This is a follow up to my previous long call:

Long targets were hit perfectly. Now shorting the expected retrace.
.

.

Background:
I am a longer term AUD bear, anticipating a serious drop yet to come

Since then I have been looking for shorting opportunities such as this recent plan

After a nice ride down, I went long which worked out very well

And then I caught the recent stair step down quite nicely:

After some good news about the US-China Trade War, I was expecting a significant move up:

So the current plan is to short the expected retrace

18 de nov. de 2018

Nota

AU gapped down precisely into the first support zone. now watching the attempted Gap Fill to gauge momentum. The good news is that the gap's Fib extensions point to the final target quite precisely.

18 de nov. de 2018

Nota

Gap fill attempt might be done. Limit order was triggered at the .236

19 de nov. de 2018

Nota

Nice progress thus far. Notice the perfect bounce from intermediary support zone

20 de nov. de 2018

Nota

Final Target hit. Have closed 80% of position now, 20% riding with right trailing stop. I expect a bounce here

20 de nov. de 2018

Trade fechado: objetivo atingido

Trailing stop on remaining position hit that might have been the low for the week, but will keep watching for most possible shorts