AUDUSD Long Term 2000 Pips Bullish Trend
Time for a long term prediction on the weekly time frame. Since its the weekly time frame it can take 2 up to 5 months.
Basicly what you can see is that the past months AudUsd has been trading in a very tight range after being 0.88+ for a while. So far this tight range has contained itself but the 1st cracks are appearing.
The Stoch and ADX indicators are all still bullish and the price is fighting a resistance again. Besides this the bollinger band is also squeezing. When Bollinger Band is squeezing it means that when price will break out of the bands the price move will be big. Given the setup of the indicators and the price action the past months a break to the upside is very likely and AUDUSD has a good chance to move back up to its previous trading range at 0.88+. Ive also laid out possible resistance levels on the way up.
Trading advice:
Start a small position and add more on the way up.
0.7400 would be a good stop loss, if that breaks 0,72 > 0.70 is next. Some might consider it a big stop loss but remember we are trading on the weekly time frame now and the high you go in time frame the bigger the price swings :)
Basicly what you can see is that the past months AudUsd has been trading in a very tight range after being 0.88+ for a while. So far this tight range has contained itself but the 1st cracks are appearing.
The Stoch and ADX indicators are all still bullish and the price is fighting a resistance again. Besides this the bollinger band is also squeezing. When Bollinger Band is squeezing it means that when price will break out of the bands the price move will be big. Given the setup of the indicators and the price action the past months a break to the upside is very likely and AUDUSD has a good chance to move back up to its previous trading range at 0.88+. Ive also laid out possible resistance levels on the way up.
Trading advice:
Start a small position and add more on the way up.
0.7400 would be a good stop loss, if that breaks 0,72 > 0.70 is next. Some might consider it a big stop loss but remember we are trading on the weekly time frame now and the high you go in time frame the bigger the price swings :)
Trade active
Trade active:
Up 80 pips now. more buys added. I recommend to add more every 60-80 pips
Trade active
Trade active
Trade active:
Small note. on Friday a lot of US data will be released and a FOMC member speaks later on the day. I will book profit on all these positions before the data release.
If after all those events audusd is flat or dips down I will start buying again
If after all those events audusd is flat or dips down I will start buying again
Comment:
All position closed! 1037 pips total. Nice week :)
Comment:
the high it made this weak is around 400 pips from the entry :) see the power of the weekly trend!