AUDUSD Decisive week for bull continuation

Discussion in 'Forex' started by Lee-Bax, Apr 19, 2020.

  1. Lee-Bax

    Lee-Bax

    AUDUSD has been the best pair for us lately. Going to plan nicely, the bull continues. We have had many long positions on the way up. Our current position also sits in 100 pips profit. P{rice held on the corrigated line nicely and we see further movement upwards. If you follow the charts then you can make this risk free now and hopefully ride it up to the TP. Hope everyone has had a good weekend. Back to the markets tomorrow [​IMG]


    Screenshot_15.png
     
    #11     May 31, 2020
  2. maxinger

    maxinger

    right.

    lately there have been rather good correlation between
    US index futures and
    aud, eur, copper and even Italy Btp bond
     
    #12     May 31, 2020
    Lee-Bax likes this.
  3. maxinger

    maxinger

    UP IT GOES AGAIN.
    eur gbp also moved during Asian session.

    not sure if it is related to jpy.
    jpy was down 100 pips yesterday which is a lot
     
    Last edited: Jun 2, 2020
    #13     Jun 2, 2020
  4. Lee-Bax

    Lee-Bax

    yep markets are moving a little different lately. i will be updating this again today as tp has been hit
     
    #14     Jun 2, 2020
  5. lovethetrade

    lovethetrade Guest

    100 per cent. Australia's quick recovery from the virus combined with dollar weakness has made it highly correlated with equities. There's usually a positive correlation between commodity currencies and equities but it's been even more pronounced due to those factors and also because China (Australia's major trading partner), recovered quickly also.

    However, I think we are getting very close to the top with a 5-10% correction due within the next month.
     
    Last edited by a moderator: Jun 2, 2020
    #15     Jun 2, 2020
  6. Lee-Bax

    Lee-Bax

    TP HIT - Audusd has seen some great bullish movement lately. our last position has hit TP for us to return a nice 250+ pips. Unexpectedly price has broke out of the top of the channel. Wether it will stay above there is the next question. I think its possible we could see a significant pullback from here before the next push. Ive marked out my circled areas of interest if we get a pullback. Or if we stay above. Enjoy those pips see you for the next one GLIYF


    Screenshot_1.png
     
    #16     Jun 3, 2020
  7. Lee-Bax

    Lee-Bax

    Well AUDUSD has certainly surprised us since the crash from the pandemic struck. Its been one of the first to rebound back with strength. We have since seen price breakout from that long term downtrend channel . suggesting to me further upside momentum. We reached the projection box that i previously drew out. i think we could see a small pullback around here before making another move to the upside to the next major resistance level . Buy on pullbacks is my idea here, ideally retesting the channel break or the fib level. this gives us a nice R:R ratio. GLIYF
    Screenshot_1.png
     
    #17     Jun 10, 2020
  8. Lee-Bax

    Lee-Bax

    New week upon us traders. Checking in on AUDUSD to start the week. We have had a little pullback in price but so far thats all it is. The trend is holding still and the .236 fib level. which has actually correlated with the trend and top of the channel for a multiple confluence trade. If price holds here then i think we could hit our first target of the previous projection. Once we get there make it risk free and hold. Hope everyone has a good week. GLIYF


    Screenshot_1.png
     
    #18     Jun 29, 2020
  9. Lee-Bax

    Lee-Bax

    Been a good few days since i called the buy again on AUDUSD , we have a little dip in price but it didnt hit the stop loss. Seems that multiple confluence zone cirlced held quite well. We are ever so slightly in profit currently so keep holding if you took the trade with me. the 0.70c zone is the one we need to break above to hit our target TP. So as long as trend holds we can keep holding. Remember to move stop loss into break even when your up 50 pips just to minimise risk. hope everyone has a good weekend. GLIYF


    Screenshot_1.png
     
    #19     Jul 3, 2020
  10. Nice move on Aud/usd, I was surprised it continued up over night.
     
    #20     Jul 3, 2020
    Lee-Bax likes this.