Next week there are 2 key pieces of news. ( GMT +8)
1. China trade balance results on Tuesday
2. US presidential election on Wednesday
I do not have the magic ability to predict news results, I just tell myself that the market will move quite alot these 2 days.
The charts are telling me that AUDUSD is in a triangle range.
If early week, AUDUSD falls and breaks below 0.7660, it is likely to drop to 0.7550 to 0.7560 to complete a .
That is where I will watch it more closely on a potential entry if it fulfills 1 or both of the following criteria
1. divergence around entry zone
The levels I am likely to execute my trade at
SL: 0.7480 (75)
I do not use pending orders.
Will keep you guys posted when I execute my trade.
Hope you find this information useful, please fee free to drop me any questions.
On to the next trade!
Had a chat with my mentor Scott(Scott Carney) yesterday, we spoke about how we view the various markets.
I will share about what he revealed to me about the S&P index in this week's report.
Download report at absolutely no cost today!