Short term
/
Sell
Trade view / 23 April 2018 at 7:51 GMT

AUDUSD – Capped by key 62% correction point

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: .7501
Market price: .7675
Background

A five Big Fig sell-off in 2018 has attracted buyers of AUDUSD back to the market in April from close to a monthly bull trend and last week’s signals continued to point temporarily higher. Contrary to these, sellers have returned to the market at the 200-day average rate as well as at 0.7812, a 62% recovery to the losses posted since March’s high, sentiment has deteriorated by over 1½ Big Figs since Thursday’s 0.7814 top. This is negative and we look for the downside to develop in the coming days.

Management and risk description

A move to 0.7620 means the stop can be lowered to break even.

Parameters

Entry: Sell at 0.7680 and 0.7729

Stop: 0.7814 bid
 
Target: 0.7620, 0.7560 and 0.7501

Time horizon: this week, closing Friday 27, 13:00 BST

5 Big Figures Losses
5 Big Figures Losses
 62% Recovery Point
62% Recovery Point
 Long Term
Long Term
All charts from CQG


— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
1y
debabs77 debabs77
honestly you are genius. I miss early entry of this trade.
1y
AlanCollins AlanCollins
mmmm. possibly. sometimes . haha. Anyway first target at .7620 met so stop is lowered to break even and the sell rally trigger is cancelled.
1y
debabs77 debabs77
wao, its trending.
1y
Romanatrader Romanatrader
Hi Alan, I hope that you had a nice weekend....great job
1y
TradingFan TradingFan
Hi Alan,

I'm in since this morning and I only check now... I moved the stop and will wait for your tomorrow's confirmation to keep it to reach next targets. In any case, congratulations!
1y
ldan ldan
Thanks for a beautiful call Alan, though I missed the selling.
Actually, I was planning to trade this pair early before your call. My 1st idea was to sell at 0.768 but my target was just when breaking new low. I thought it was too short a distance, not worth the risk and I cancelled it. When I noticed your call, the level was already around the monthly low. I was amazed you have the confidence to set the first target at 0.762. Nevertheless, I didn't have confidence to sell at that level.
My 2nd idea was to buy at 0.75885. After seeing your call, I actually shifted it to 0.7501, and I continue to watch. Now, at my original buy level It seems buyers entered to absorb the selling. So, I shift back my entry and managed to buy at 0.7589. I prepared a tight stop in case selling resume.
I'm still amazed how you could boldly set 1st target at 0.762 and target 0.7501 within a week. There are much to learn from you. A big thumb up. Cheers.
1y
Lex29 Lex29
Хорошо идём с продажами
1y
IL IL
Lex29 , maybe it is too late for you to sell today- this pair can go up for a while from this level. Better to enter at 0.7729- Allan's upper selling niveau
1y
AlanCollins AlanCollins
Traded very close to our second target at .7560 this morning but, with caution in mind, I suggest reducing shorts further around .7575 (current levels) with a stop on short balances at .7640
1y
Lex29 Lex29
IL, с понедельника продал 0.7636 в сделке в ожидании третьей цели 0.7501

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