IvanLabrie
Long

AUDUSD: Huge breakout, similar to copper and iron ore

FX:AUDUSD   Australian Dollar/U.S. Dollar
2 months ago
We have a potential breakout of considerable scale in the Aussie dollar chart. I'd highly reccomend entering longs if not in, you can risk either 3 times the daily ATR for the long term, or use Friday's low as your stop, more aggressively.
The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not yet confirmed, but highly likely, so we can get in early on. I'm adding a shorter term entry here, on a break of Friday's high, with stops under Friday's low, to complement my longer term position in this pair.

Check out my copper             forecast in the related ideas, as well as the oil             an commodity index charts. We're in the brink of a massive move, that if confirmed, can be ridiculously profitable for all of us if it pans out like I expect it to. This also ties nicely with China's inclusion in the SDR             basket today, OPEC's deal, fears of Deutsche Bank's failure dissipated, and Australia's fundamentals overall.

Cheers,

Ivan Labrie.
2 months ago
Comment: Looks good, new high.
2 months ago
Comment: We might break out of the range here today, keep an eye on it.
2 months ago
Trade closed manually: I don't like the erratic price action in eurusd and audusd. I'm out for now.
Holding USDJPY long, GBPUSD short, XAUUSD short, XAGUSD short, NGAS long, USOIL long, and equity/commodity trades.
2 months ago
Trade active: Covered NZDUSD short for 1% profit.

Reentered AUDUSD long:
snapshot
2 months ago
Comment: This pair might soar:
snapshot
2 months ago
Comment: Close half of the long position.
2 months ago
Trade active: Went long AUDUSD and Copper again today, right after NFP.
2 months ago
Comment:
snapshot


AUDUSD stopped, have to reenter on a break of Monday's high.
2 months ago
Comment: After a test of support, the breakout is now fully confirmed...if we have daily lows above 0.7719 soon, it'll soar.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).

Related Ideas

wolfstreetswinger
2 months ago
Totally agree just been doing some wave analysis on AUDUSD this ones ready to fly i think could reach over 1.00000, exciting times :) im definitely on board for this one.
Reply
jorv2074
2 months ago
don't understand your logic to get long here since AUDUSD still has not broken above the long term downtrend trend line - care to explain
Reply
IvanLabrie PRO jorv2074
2 months ago
Check out the orange 'inside trendline'.

Multiple bullish factors for this pair, both fundamental, correlational and technical here.

I don't use normal trendlines but pay attention to broadly followed lines. They tend to be late.
Reply
jorv2074 IvanLabrie
2 months ago
Did turn out the way you expected. That 77-77.50 zone is tough nut to crack and the fundamentals also don't support aud breaking that wall. The only way AUD breaks this zone is if Trump were to get elected but I don't see that happening either
+1 Reply
IvanLabrie PRO jorv2074
a month ago
Indeed, it's tricky, but if we get more bullish sentiment in equities it might be feasible. Also important to consider China's influence, and the SDR basket inclusion of the RMB.
Reply
wolfstreetswinger jorv2074
2 months ago
I think ivans logic and analysis is correct. There is a big uptrend coming. although i always run my own analysis with any ideas i see to follow my own entry strategies i wouldn't of entered long yet unless we broke above .77200 for me i can see an absolute perfect elliott wave downtrend most perfect i've seen i opened a short when rsi was up and cci crossed 0 at point c of triangle signalling end of wave 4 closed half now letting the rest play but when wave 5 finishes there will be massive uptrend
snapshot
Reply
wolfstreetswinger wolfstreetswinger
2 months ago
Great entry point if we complete wave 5, if that dosnt play out will still be looking to go long around .772000 either way i still think theres a big uptrend to be had
Reply
IvanLabrie PRO wolfstreetswinger
2 months ago
Yes, maybe it drops once more. For now, there's a short term setup that gives me a long entry here...it might or not, evolve into confirming the larger move, but we can't tell yet.

I close half because it's close to my stop, if I'm stopped out I lose less than my original risk, if not, it still has a chance of making money. I only do it when things show me reduced odds, say 50/50%.
+1 Reply
wolfstreetswinger IvanLabrie
2 months ago
think i might employ that strategy lol, they never seem to turn around once they get near my stop.
Reply
IvanLabrie PRO wolfstreetswinger
2 months ago
Yes, we can time it too, like, wait 3 bars after entry. If no reaction by then, the signal was probably not valid.
+1 Reply
SkyrEk
2 months ago
i'm with you on this long entry up! Cheers mate!
Reply
IvanLabrie PRO SkyrEk
2 months ago
Hopefully we get it...good luck!
+1 Reply
SkyrEk IvanLabrie
2 months ago
Monday's high, which means u will enter long on a break of .7680?
Reply
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