AUDUSD hitting a line in the sand … the week of 04 Sep
The line in the sand seems to be in the 0.65218 region. The aussie has stayed below it and failed to close above it for the last 17 trading days. This pair is below the 200 dma, the USDX is firmly bullish, I really don’t seem to have a choice but be bearish on AUDUSD – at least for the short to medium term.
Can the bulls try to make another short run to the upside? Yes, absolutely and I would welcome that because that would give a better entry for a short. I suspect that on Monday we may see some sideways moves and possibly on Tuesday, we should have a nice short entry.
My ideal trade parameters are indicated on the chart. The ideal scenario does not always happen, but if my analysis is correct, we have the potential of a 3R trade.
Being prepared for the unexpected is a good idea in trading, so please use sound money and risk management and stay patient in all your trades. If you like my content, please give it a “thumbs up” and follow me to get even more.
What do you think about this trade idea? Please comment and share your thoughts!!
Can the bulls try to make another short run to the upside? Yes, absolutely and I would welcome that because that would give a better entry for a short. I suspect that on Monday we may see some sideways moves and possibly on Tuesday, we should have a nice short entry.
My ideal trade parameters are indicated on the chart. The ideal scenario does not always happen, but if my analysis is correct, we have the potential of a 3R trade.
Being prepared for the unexpected is a good idea in trading, so please use sound money and risk management and stay patient in all your trades. If you like my content, please give it a “thumbs up” and follow me to get even more.
What do you think about this trade idea? Please comment and share your thoughts!!