IvanLabrie
Long

FX portfolio: Long AUDUSD on a breakout of last session's high

FX:AUDUSD   Australian Dollar/U.S. Dollar
We have a nice setup in AUDUSD             , although of lower probability than the others I posted today, since the longer term trend signals on chart aren't confirmed yet. Interestingly, price bottomed at the June 24th's session low...rings a bell? We can extrapolate the signals from commodities , to the ones in FX pairs, and take the daily chart signals as an excuse to join this potential massive trades yet to be confirmed. Keep risk below 2% if you take it.

After the daily oscillators get overbought, we can trim the position, trail stops, or simply exit. But, since we speculate on this eventually confirming a higher timeframe uptrend signal, we'll only close half the position on a new daily low after CCI goes above +100, and trail stops to entry on the rest of the position.

Good luck,

Ivan Labrie.
Trade active: We flipped short on a new daily low here, I don't like the look of the move being retraced 100% after making a new high above Friday's high.
Trade closed manually: Covered short before today's rally.
Read the updates. I flipped short under yesterday's low.
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-Andrew- PRO IvanLabrie
Good work - Sorry did not read the update
+1 Reply
No prob...the idea is to be flexible (when viable)...here it was a good idea to flip short since we didn't hold above the key level generated by the last FOMC meeting. We're probably headed towards 0.7474 (the Brexit key level).
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Very bearish to me
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