ChaosTrader63
Short

AUD vs USD KBO Trade Opportunity

FX:AUDUSD   Australian Dollar/U.S. Dollar
Looking at the AUD vs USD on the H4 we have a KBO to the downside. I am using the Ichimoku Sub as taught in the video but we still have all bearish signals as we have a bearish TK             Sub Crossover. Our future is dark, Chikou is below the price action of 26 periods ago and mainly price is below the Kumo. I am placing my SL at .79460 two pips above the high of the previous candle. If price wants to continue lower it will break previous lows but if price wants to move higher it will start breaking previous highs. We like to see the W % R in the oversold position of -80 or lower to enter the market because this shows selling pressure which also is momentum . Most traders look at oversold meaning that the pair is due for a reversal at this level but in reality we are entering into strength rather than buying weakness into the strength of a downtrend.
The daily time frame is bullish with price above the Kumo and trying to find support at the Kijun but the past four days the bears have dominated this market and continue to do so as of now. I am going to stay with the strength rather than wait for the strength to diminish therefore we enter the trade on the H4 KBO. Check me out at fxatoneglance.com and have a great trading day and God bless!
SPQRapid
2 years ago
It is a possible KBO to the downside right now price is still in the cloud ! And if the candle doesn't close outside of the cloud it isn't a KBO ! In any case the next candle will open outside of the cloud BUT on the side of the cloud something that you say in your courses that isn't a good KBO ! Beside the daily is in a uptrend and this could be a pullback to the daily kijun sen ! With all that said i understand why you took it and i know that you are way more experienced with trading !
Reply
ChaosTrader63 SPQRapid
2 years ago
All of your statements are true but I think the breakout would be more to the bottom than the side but at any rate you are correct. I am also expecting this to be a pullback based off of what the daily time frame is showing but I am not going to trade what I expect but rather what I see. If this fails then I know the daily is finding support at the Kijun and then I will change my thinking. All too many times we say the market might do this or should do this but I prefer to trade what the market is doing now so on the H4 I am going to trade what the market is doing now. If we are wrong then we can always change our perspective. Again I do like what you have said and like I said you are correct in what you have said.
+1 Reply
sepideh.yazdimd SPQRapid
2 years ago
weekly chart confirms the H4 kbo as well ! Good luck!
Reply
sepideh.yazdimd
2 years ago
Great, God bless!
Reply
ChaosTrader63
2 years ago
Currently about 40 pips profit and I think we have just started picking up the momentum but all for not as we have major USD news in about 1 1/2 hours. My strategy will be to move my SL to break even now and see if the news is in my favor. I will risk the 40 pips profit to see if I can get bigger gains with the news release.
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sepideh.yazdimd ChaosTrader63
2 years ago
I got 30 pips and closed the trade! Thanks God I am blessed today! I hope hear from you every day. Cheers!
Reply
ChaosTrader63 sepideh.yazdimd
2 years ago
Glad you took the profit cause I only took 10 trying to play the news. You'll hear from me when I see something happening! God bless!
+1 Reply
okrim
2 years ago
I am still in this trade, finally we had a nice red candle, Sensei you always have a great eye! Thank you and God bless!!!
Reply
SPQRapid okrim
2 years ago
Move your SL to breakeven . Yellen speaking in 15 min
Reply
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