AUDUSD DROP
| Event | Time | Instrument | Impact |
|---|---|---|---|
| Core Retail Sales m/m | 3:30PM | USD, Major Pairs |
AUDUSD is poised for a liquidity sweep aroundthe 0.65500 price point, a very solid resistance zone. The bullish push will be fuelled by the high impact 3:30 Core Retail Sales news. Wait for the liquidity sweep, a bearish engulfing candlestick pattern for a bearish entry confirmation signal to go short. Set your stop loss anywhere above 0.65500 with a take profit at 0.64900.
Reviewing Analysis and Comparing Projections to Actual Market Movements.
The high impact Core Retail Sales news at 3:30m did not trigger the much anticipated liquidity sweep above the 0.65500 price level but the market rallied upwards to retest the zone which held pretty well to form the double top we had earlier predicted. The bearish engulfing candlestick pattern which we designated as our entry signal came in the 15min timeframe which marked the start of a big bearish drop smashing fiercely past the recommended take profit at 0.65500 and coontinued pressing downwards to the 0.64661 - 0.64622 support zone.
| ID | Entry Time | Exit Time | Pips Made | Asess Signal |
|---|---|---|---|---|
| AUDUSD | 4:00PM | 7:15PM | 40 PIPS | |
