Tag Archives: AUDUSD

AUDUSD Bat Pattern & Gartley Pattern for Long & Short #Forex #Trading

AUDUSD Bat Pattern & Gartley Patterns for Long & Short

Snapshot:

AUDUSD Bat Gartley Patterns for Long Short Forex Trade
AUDUSD Bat Gartley Patterns for Long Short Forex Trade

Reasons For Trade:

  1. Bat Pattern for Long Trade entry
  2. Gartley Pattern and Bat Pattern for Short Trade Entries

Stop Placement:

  1. For Long Bat Pattern it has to be below the X point. We see that there is 7200 level too. So stop has to go below that. This increases ours overall risk in trade.
  2. For Gartley Pattern based short entry the stop has to be above X point however we have another structure high just before that. So we will include that too. We use ATR (at the moment it is 13 pips). So stop = high+atr. It is however better to take short entry based on Bat Pattern as it gives us better R/R ratio.

Targets:

  1. For Long Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.
  2. For Short Gartley Pattern first target is 38.2 retracement and second target can be start of the bat pattern
  3. For Short Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.

Trade Execution:

  1. For Bat pattern we can be aggressive and front run orders before 0.7220 level.
  2. For Short Gartley Pattern wait for market confirmation using Double Top/Over Bought/Bollinger Bands/2618 type of entry technique.
  3. For Short Bat Pattern  we can be aggressive.

Concerns:

For Gatley pattern there is not much R/R ratio is not good for the first target. As SMAs are just below completion of gartley, price may just come back to retest them and go upwards.

Planned News/Events Expected:

TueOct 20 8:30am USD Building Permits

Post Execution Review:

Pending

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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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AUDUSD Bigger Bull Idea (50/200 SMA, Structure)

AUDUSD Bigger Bull Idea (50/200 SMA, Structure)

2015-10-13_AUDUSD Long Term
2015-10-13_AUDUSD Long Term

Better place for Long entry is at 1H chart:

2015-10-13_audusd better long trade entry zone
2015-10-13_audusd better long trade entry zone

Reasons For Trade:

1. 10sma is crossing 50sma in the yellow region. The price might test this zone to give us a bullish entry.
2. 200 sma is far up above. Once the price crosses the latest structure high at 0.7378, the next target will be retest of 127.2 fib level/200sma.
2. Daily and weekly chart are not showing any signs of oversold or overbought.

Stop Placement:

  1. Below 10sma-50sma crossover

Targets:

  1. First Target at: 1:1 R/R
  2. Second Target at 127.2 Fib extension of most recent high
  3. Third Target around 200sma

Trade Execution:

  1. Wait for a confirmation inside the zone to take an entry as this is a wide zone.
  2. As soon as target 1 is hit, close 50% of the position and move the stops to break even i.e. 0.7238
  3. Ride to second target and close 50% of the remaining position and move stops to 0.7330
  4. Re analyse the market to see if more profit can be made with 200sma as target and stops at 0.7428

Concerns:

  1. The price may never come to our zone to give us an entry.
  2. Trade Management will be complicated

Planned News Expected: (UK Time)

TueOct 13  1:30am AUD NAB Business Confidence
WedOct 14 1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

#AUDUSD 4H Fibonacci Trade

AUDUSD 4H Fibonacci Trade
AUDUSD 4H Fibonacci Trade

Reasons For Trade:

1. Close Fibonacci Confluence of 0.886XA leg with 1.272 AB leg
2.  RSI has been overbought i.e. above 80

Stop Placement:

  1. Above the are of resistance

Targets:

  1. 23.6 Fib Retracement of AD Leg will be the first target as this is currently respecting 23.6 instead of 38.2
  2. 50.0 Fib Retracement of AD Leg will be the second target as this is currently respecting 23.6 instead of 38.2

Trade Execution:

  1. Let the price reach the PRZ and look for Double Top or Bearish Divergence or an Advanced Harmonic Pattern completion in the zone on a lower time frame i..e. 1H or 15M chart.
  2. As soon as Target 1 is hit, move the stop to break even and close half of the position.

Concerns:

  1. Stop Placement. The Supply/Demand theory suggests stops where they are. However advanced harmonics dictates stops to go above previous structure.

Planned News Expected: (UK Time)

TueOct 13  1:30am AUD NAB Business Confidence
WedOct 14 1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

AUDUSD LONG IDEA


AUDUSD Long Idea by TradeYodha on TradingView.com

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------