Update – SELL AUDUSD 0.8065 – May 15, 2015

On May 15, a sell was issued for the AUDUSD pair;

Macro Levels – H4 Closing Below Macro Level Within Weekly Downtrend. Target 3 is 0.7720

audusd-sell-entry-15052015

 

The trade has since gone to hit target 1, target 2 and target 3.

audusd-sell-target3-15052015

In fact, price continued falling below the lower Macro Level and we are now waiting to see how price reacts at this level. If it bounces and stays above, we’re looking at possibly buying however if the Macro Level acts as resistance, we are looking at selling the pair again.

Congratualtions to traders that held their positions. Well done!

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