AUDUSD Potential Change in Trend & Buy Set Up

Previously we were only looking to short AUDUSD as it has been in quite the consistent down trend over the past 2 months or so. We followed this trend and got a few successful short trades out of it, but the last attempt we took shorting this pair failed and we got stopped out. Losses are a part of trading and we now have a better insight as to what the market may be doing. With higher highs and higher lows now forming and the strength from the poor NFP numbers holding we can expect this to be the beginnings of a decent up trend.

For this reason, if we see price slowly bull pack and then momentum steps in to break out of that pull back to the upside we can consider taking a long position on this pair. REMEMBER you do not need to trade every day so WAIT for the set ups that will most likely work out. We will only be trading this pair if this set up plays out. If it doesn't we don't trade and we will sit and watch until we figure out what it wants to do.

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Comment:

AUDUSD is breaking out to the upside

Comment:

Great move on this one guys