Sunday and the markets are back open tomorrow. If youve been following this AUDUSD buy from the bottom i would take profit around here its a good 250-300 pips depending where you got in. I say this as ive been reading China could potentially have a 2nd lockdown, due to a spike in virus cases again. If this happens it could affect AUD and we could possibly see a drop down again. So taking profits is wise here, if it is not the case and they keep production up then aud could potentially continue. I will be looking for buys in the circled areas on the break above the supply zone . Or on the support in the channel if we see some sideways range action this week. Cant go broke taking profits. GLIYF and RM as always
Well since the rest of the world was shut down for Covid, the ozzie has certainly been tugged along due to the fact China got back into production quicker than the rest. AUd has seen some good strength the past few weeks. Since i called the buy we are now sitting at 465 pips profit. Almost at projected TP point so well done if you got in when suggested and caught this lovely move. i will be looking to enter fresh longs on pullbacks to support areas. The .618 fib level looks most likely for this. Enjoy GLIYF and RM as always
TP was achieved on AUDUSD , 500 pips done (well 492), not a bad haul. You can see the bull run out of steam and we just kissed our TP level and now we can see the pullback happen in price. Ideally i would like to see price hold above the 50% and stay inside this long channel we have been in. Im looking at this little level of support or the channel for my next trade (yellow circle). Ill be entering fresh longs if we see some support forming and id like to try and hold and get above 65c. Hope you had a good weekend, almost market open time again GLIYF
Well AUDUSD has gone to plan so far on the second buy. Price came down to that support level perfectly, we even got a lovely little double bottom for people that missed the first entry. Weve since seen some nice bullish action and about half way to TP. You can make the trade risk free now by moving stop loss to entry, currently 130 pips up. If you like to close out for fridays then now is your time, NFP today so be careful of that. Have a good weekend everyone GLIYF and RM as always
Just an update today everyone. AUDUSD is well in profits, trend seems to be holding nicely . Were still looking for that push up towards the corregated line as i think that is the defining level to cross over. Take some profits if you wish, but ill be holding my longs for a little longer still. GLIYF
Have been away on a break but today looking back on the charts im reporting the TP hit on AUDUSD . It took a little longer than expected but if you held on to the position then we have achieved 304 pips from that trade. I presume everyone took profit on that. Now we can see a good bull starting for AU . DXY seems to be weakening alot in recent times so we look for re entries on the buy. The current ares of price is interesting if it holds here then we can enter around here for another buy to break above the zone up ahead. Im targeting the red circle at the top of the long down channel we have been on for a long time. lets see how we go. GLIYF