ForceFollower
Long

AUDUSD Climbing Up the Forks

FX:AUDUSD   Australian Dollar/U.S. Dollar
286 17 0
Market is going to find its footing on some of those lines... I think a good entry long would be just above the dashed switchback line. The AUD is currently very strong, but overbought; the USD is strengthening but is weak. The overall trend is up and I don't think it's done yet.
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Disclaimer:
There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
The idea was a loss. But I reentered lower and I've closed this position at .9416, scoring a net win.
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itaskar ForceFollower
very nice! :)
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Thanks. :-) Now I'm asking myself, where to reenter it (long, of course). Probably I'll try first at .9403, then at .9389.
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Now, it's probably going up to take out those fresh SL orders that have just been placed above the recent minor high...
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This rally now should be stronger than the prior one... http://www.mql5.com/en/charts/1746985/audusd-h1-oanda-division1
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This price action looks like come kind of correction. But I remain bullish about this pair, so I expect another rally:
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A close-up
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FaultyKid ForceFollower
And it's off!
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ForceFollower FaultyKid
Yes, let it go... :-)
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If this current low is going to hold, I expect it to develop in either of these ways:
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OK. how about this support? http://www.mql5.com/en/charts/1752061/audusd-h1-oanda-division1
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ForceFollower ForceFollower
OK. It's failed. :-(
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I've added the down sloping channel to get a better feel: http://www.mql5.com/en/charts/1752414/audusd-h1-oanda-division1
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Like2Move ForceFollower
Support @ 0.925 or even 0.915?
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Like2Move Like2Move
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ForceFollower Like2Move
Excellent study! Thanks, pal. But those levels are so low that it would either take a large sell-off or a long time to get there. And there's a strong support @ 0.93. Maybe you're right, but it would be unbelievably low for me. :-) Let's wait patiently...
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OK. I expect it to develop the following way:
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