AUDUSD this week has played out nice. Made a few trades this week on this pair losing only 1 making my overall gain this week on the pair around 3.4% gain purely on this pair. Now the reason behind this trade...
We are still clearly in this downward channel showing that overall this pair is bearish. We've come up to the descending channel line along with some recent structure where price has pushed into and rejected giving me confluence that we should see some more downward movement. I've got a few alerts set as the trade progresses, one at 1% in profit another at a recent 15m structure where i may consider closing the full trade and alsohave one running in drawdown for if rice pushes again i can jump on the charts and monitor the pair.
There is some US news around 13:30 UK time which will be interesting, good news could see this pair come down to final TP and finish the week off nicely.
Let's wait and see how we play out.
We are still clearly in this downward channel showing that overall this pair is bearish. We've come up to the descending channel line along with some recent structure where price has pushed into and rejected giving me confluence that we should see some more downward movement. I've got a few alerts set as the trade progresses, one at 1% in profit another at a recent 15m structure where i may consider closing the full trade and alsohave one running in drawdown for if rice pushes again i can jump on the charts and monitor the pair.
There is some US news around 13:30 UK time which will be interesting, good news could see this pair come down to final TP and finish the week off nicely.
Let's wait and see how we play out.
Comment:
1% target reached. SL to breakeven and close some profit
