Aussie Breaking out with the Bulls

FX:AUDUSD   Australian Dollar / U.S. Dollar
60 0 5
Long term perspective.
Bandwidth on daily has risen sharply, weekly overall flat, but you can clearly see the increase in volatility from last week in price action. A good entry point would be to wait for more confirmation on weekly. You can see that one weekly bar only generates a small amount of increased volatility relative to past movements on Weekly. This market has obviously been in a strong Bear trend for few years, and in these scenarios patience is required for long term traders. A break of the next upcoming minor supports on daily and further strong bullish candles on Weekly will confirm a new trend.
Ideally .750 will break and the next level to watch will be .800-.820. (Please note all my Support and Resistance lines should be viewed as zones and not fine lines!)
I am long term trader and target trends, if this trend does not confirm or continue I will discard this trade. I find trading range bound markets to be far less profitable than trends.
Trade closed manually: This has entered back into consolidation , I will remain aside until direction is established
Trade active
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out