This trade has been playing by the rule book 100% of the move. Each structural schematic, Elliott wave - back up and down the Regression channels and so on.
Expectations have been met yet again, see the Order Block image (Green ticks, Red crosses) from the previous post. AUD has just come back to collect its liquidity pool and trapping some traders long.
Supported by last week's COT data whereby Leveraged funds and Asset Managers have eased a little off the long sentiment and added only a small amount to the short positions.
As per Fibonaccit levels - the 3 move up tagged the 1.618, through it and back as support before extended exactly to the 2.618 level. We are now expecting the completion of the Wyckoff distribution and down to tag the golden target level.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Expectations have been met yet again, see the Order Block image (Green ticks, Red crosses) from the previous post. AUD has just come back to collect its liquidity pool and trapping some traders long.
Supported by last week's COT data whereby Leveraged funds and Asset Managers have eased a little off the long sentiment and added only a small amount to the short positions.
As per Fibonaccit levels - the 3 move up tagged the 1.618, through it and back as support before extended exactly to the 2.618 level. We are now expecting the completion of the Wyckoff distribution and down to tag the golden target level.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Note
Note
Last image from prior to the move Note
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Note
Note
Note
DXY Potential Cup and handle formation - again further confluence of the down move on AU. Note
Slow Friday volume - Monday & Tuesday usually corrective days. Descending channel and a breakout expected here.Note
Note
Note
Note
Discord Server for education and advanced techniques: discord.gg/5t3w47raHe
Masterclass Webinar: mayfairtradingevents.com
Prop firm partners (FTMO)
shorturl.at/hBEQ4
Masterclass Webinar: mayfairtradingevents.com
Prop firm partners (FTMO)
shorturl.at/hBEQ4
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord Server for education and advanced techniques: discord.gg/5t3w47raHe
Masterclass Webinar: mayfairtradingevents.com
Prop firm partners (FTMO)
shorturl.at/hBEQ4
Masterclass Webinar: mayfairtradingevents.com
Prop firm partners (FTMO)
shorturl.at/hBEQ4
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.