AUDUSD DOWNTREND TECHNICAL ANALYSIS 8 - 12 OCTOBER 2018

DOWNTREND
PREVIOUS SWING HIGH - 0.73158
PREVIOUS SWING LOW - 0.70853
BROKEN STRUCTURE - 0.70983
PREDICTION: 0.70240 - 0.69362
NEXT SUPPORT - 0.68641
LOOK FOR SHORT ENTRY REASONS ON SHORTER TIME FRAME
ONLY PLACE TRADE RISK TO REWARD IS <1
STOP LOSS: .786 RETRACEMENT
TAKE PROFIT 1: 1.272 EXTENSION
TAKE PROFIT 2: 1.414 EXTENSION
TAKE PROFIT 3: 1.618 EXTENSION
KEEP IN MIND THAT THE MARKET IS OVERSOLD AND MACD IS DIVERGING BULLISH
PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET
LOOK OUT FOR ECONOMICAL EVENT'S
THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG.
PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS
lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS- I WOULD REALLY APPRECIATE IT
GOOD LUCK, TRADERS

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