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