AUDUSD Short: 5-0 Pattern, Channel Res, 50DSMA, and Weekly Pivot

Hey Traders! It's been awhile since I've shared an idea, I've been working on automating my trading strategy! AUDUSD is approaching a critical level presenting us with an opportunity to enter a 2-3 week short with a nice R/R. The pattern that caught my eye is the bearish 5-0 which I've had success with in the past for 4H-1D charts. In addition to this, we have resistance from the weekly pivot, 50 day SMA, and a parallel channel confluent at the same level. Short entry is placed at the 5-0 "D" point with target at the 1.272 extension. I will likely move stop to B/E around the 50% move to target if triggered.

Bearish Confluence:

Bearish 5-0 pattern
Bearish parallel channel resistance
Weekly pivot resistance
50 day SMA resistance
Bearish weekly channel

Feels great to be back on TV, hope you enjoyed and good luck to all!

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+100 Pips: Stop moved to breakeven. Maximum drawdown was just 26 pips.

glennmercer

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.

glennmercer

Aynı zamanda::

İlgili yayınlar

GBPCAD Short: Bearish 5-0 Pattern Complete

glennmercer tarafından