FeroxWealth
Long

AUDUSD Long Intraday Move Within Major Swing

FX:AUDUSD   Australian Dollar/U.S. Dollar
TRADE TYPE: SCALP

AUDUSD Potential Long Swing

If you check out our previous AUDUSD             long idea above where we go over the overall market direction and potential upside targets, you will see that this is clearly a shot of that same analysis but on the hourly chart rather than the daily. Within this upward swing we can see this potential intraday long setup forming. You can see that the price action             has formed a very nice wedge pattern and has since then broke out to the upside. Since breaking out, price action             has retraced a bit and seems to be making a moe             to the outside apex of the two trend lines that made up the wedge . We will be looking to get long here at around .74550 if the opportunity presents itself and ride it up to at least the previous top around .75250. The final target for this trade would be somewhere just below the .76000 even figure at around .75800.

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Order cancelled: Canceling order until after China news settles... will monitor price action
Comment: Following China data release the buy order has been placed again
Comment: We got entered @ .74550... hope you all did as well... up about 25 pips. WE ARE SETTING STOP LoSS TO .74500 under the low there.
Trade closed manually: Closing trade at about break-even now that the market appears to have decided its direction... Looks like it wants to move lower
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