IvanLabrie
Long

AUDUSD: Weekly uptrend setup

FX:AUDUSD   Australian Dollar/U.S. Dollar
808 23 31
This is my AUDUSD             forecast, there's a very nice uptrend in the daily and weekly charts.
In my group we have opened and closed multiple long positions on the way up, and this is a nice chance to add to this trade.

The uptrend signal demands a test of the low volume resistance (red box), to eventually reach 0.76476 or even higher, but it'll be a considerable feat if AUDUSD             manages to breach this level and head up.
The most probable outcome is that we see a similar move as the one I forecasted for EURUSD             , with price rallying and reversing right below the low volume resistance zone .

For the time being we'll go long, and we will observe behavior when approaching the resistance zone , and the target.
Once it's clear we can probably open a short of similar characteristics to EURUSD             , but can't give specifics yet.

Cheers,

Ivan Labrie.
Time at Mode FX
Trade closed manually: Doesn't look right at all.
So deep analysis mate.. Well done..! Although you didn't notice that pin bar...!! I am just kidding :) .. Keep up the great work..!
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IvanLabrie PRO Fxprotrader
Haha.
Actually, there was no way to know it would drop on China news.
But, once it did, you could get out and flip short at my stop loss with a 1 atr stop. (and recover)
+1 Reply
GoodLuckbabe IvanLabrie
This thing does not have all traders which you have I love it I think traders must play on both sides and if they feel that they are on wrong side then immediately change their position and follow the wright rout that's very good that's why I follow your ideas and respect all of these because your ideas are very informative and your are a active and reactive trader
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GoodLuckbabe GoodLuckbabe
this is short cover rejection
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GoodLuckbabe GoodLuckbabe
means we are approaching on resistance
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IvanLabrie PRO GoodLuckbabe
My chart has a different daily close, no pin bar...strange.
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GoodLuckbabe IvanLabrie
thats why you did not notice but i can see this on different brokers platform
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GoodLuckbabe GoodLuckbabe
i think your daily close is not the New York time daily close
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IvanLabrie PRO GoodLuckbabe
Well, it's what I see on the chart here. The weekly closed there apparently.
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