FX:AUDUSD   Australian Dollar / U.S. Dollar
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Bullish flag pattern, supported by good jobs report. USD weaker.

Rallied to 127.2% of the measured move, expecting the normal retracement to 100%.

Long from 0.81725 or 0.8173, targeting 0.8245 with stops near the lows of the bullish break out bar.

Comments

Great one, an inverse head and shoulders as well
+3 Reply
justatrader Technician
Thanks. Missed spotting the H&S, else it would have been a very nice confluence, adding some extra weight. Alls well that ends well I guess.
+2 Reply
Technician justatrader
It feels good when things end well :)
Reply
jangseohee Technician
it would have been even more fabulous when things don end well, because it was through this mistakes that i am on marvelous steps to improvement and become sharper :P
It took me one year (6 hour/day) to draw and find channels with lots of mistakes :-)
Reply
justatrader Technician
Especially on a day like today!! Just glad i wasn't short on any CHF pairs and neither long on the Buck. Expecting some fireworks from the US in response to the SNB news.
Reply
Technician justatrader
Oh my ... Never seen such move in my life, Thousands of pips in a matter of minutes
+1 Reply
jangseohee Technician
i am expecting another ground breaking movement on 22nd based on Draghi's action or inaction
Reply
jangseohee justatrader
reward yourself with fine dining at the end of a cold day :-)
Reply
Follow Up:

1. Move stops to the low created by the spike, maintaining the target
2. Move stops to break even and raise target to 0.84
or
3. Just let the trade be as it is and get a good night's sleep
+2 Reply
That's is a great piece of news. Thanks
+2 Reply
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