Great trade, Kastro. You're one of a kind! Beginners should take heed to this rapidly-advancing trader. He's a dangerous placer. Shows what hard work can accomplish! Will be the next great hedge fund manager (I hope to be on his payroll ). Ex
Seems risky to me. You may have just bought the top. I just shorted the NZD/USD and assume the AUD/USD would be in a similar position, just not as fast moving. As always, time will tell.
The pair has been trading in range mode for the last few days in anticipation on the RBA interest statement tomorrow at 5:30 pm EST. Itâs expected to remain at 5.50%. If so, I think this pair will continue to drop due to the interest rate differential between the Australian dollar and US dollar. So, Iâm looking to short with a candle close below the S2 line at about 0.7095. Stop at 0.7160. When it hits my first Profit Target I will close have the position, and move stop to break even. If it breaks below the S3 line I will use the previous bar high as the trailing stop. Good luck and good trading.
Best be careful on this. Japanese investors who once wanted the Kiwi will be going to the AUD now, especially since the rate outlook for the AUD is good. Expect a large jump in the AUD soon.