AUDUSD analysis and trade

Hi everyone - this is my first post. I’ve been around a few times but I now feel that I need to be part of a Forex community. Babypips appears to be the best in that regard.

I’m a discretionary trader with an average knowledge of technical analysis. If people would like to comment on my analysis etc please feel free. I hope to be a regular contributor - so here goes.

I hope that I uploaded the chart. The chart is a daily of the AUDUSD as at 5 August 2022. As you can see the price has penetrated the 10 day moving average and is about to go below the previous bar. I put a a short entry when it crossed the 10 day moving average @0.69650 with a stop @ 0.69901. I’ll add another contract when it penetrates the low of the previous bar @ 0.69332 … target - no idea but I’ll close out when the price crosses the moving average. For experts on this site please feel free to comment.

It of course depends on how you trade. Based on the broader range on show there it looks to have reacted off the 50% and therefore fair value. I expect a possible retracement to 0.68460 and then a continuation of the bullish profile.

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Thank you, Cash86